Head of the RA NA Committee on Financial, Credit and Budgetary Affairs, Gagik Minasyan said that the Law on Mandatory Vehicle Insurance is ready for application.

The law is aimed at protecting the interests of both drivers and pedestrians, Minasyan told a briefing.

As for citizens’ resentment over the law, he said that as soon as the Law on Mandatory Vehicle Insurance is enforced, Armenia’s citizens will conceive that it is applied within their interests.

Referring to the Committee’s activity in 2010, Minasyan said that the Committee gave positive conclusion concerning 28 bills and 4 international agreements. He attached importance to adoption of the Laws on Guaranteeing Individuals’ Deposits and Introduction of Internal Audit.

“The Law on Internal Audit will allow establishing control over distribution of funds in state bodies and institutions,” concluded Minasyan.