Armenia's Defense Ministry seeks full ownership over military company - paper

Armenia's Defense Ministry seeks full ownership over military company - paper

PanARMENIAN.Net - Armenia's Defense Ministry is eager to purchase 20 per cent of shares of Automatica CJSC.

The Ministry will submit this draft decision at the coming governmental session, Haykakan Zhamanak daily reports saying it already owns 80% of shares in this military industrial enterprise.

“It is unclear why the Defense Ministry seeks to possess 100 % of this company; no shareholder of any company in Armenia can in fact interfere with the company’s activities,” paper says.

The remaining 20 per cent currently belong to a certain Zaven Tumanyan, and the defense ministry is going to buy the share for USD 200000. The government will allocate the sum from off-budget resources, the daily says.

 Top stories
Archaeologists believe rulers would have used the shrines for divination — a practice in which one tries to see into the future.
The body of an Azerbaijani soldier was left in the territory between Armenian and Azerbaijani military positions.
United States planned to start issuing visas in accordance with a new reciprocal arrangement beginning January 1, 2015.
“This exercise aims to empower youth by giving them an opportunity to network,” head of the OSCE Office in Yerevan said.
Partner news