Economy Ministry comments on Araratcement future

PanARMENIAN.Net - Management of Araratcement, a company owned by Prosperous Armenia Party leader and businessman Gagik Tsarukyan, has been transferred entirely to the Ministry of Economy, and the company's director will be a ministry employee, Economy Minister Gevorg Papoyan told reporters.

According to the minister, decisions regarding the company's other entities will also be made in the near future, Aysor.am reported.

"I assure you that we are no less interested in ensuring that these economic assets operate at full capacity," he said.

Commenting on the procurement season, Papoyan said he expects no problems in that process.

Prime Minister Nikol Pashinyan, commenting on the condition of Araratcement, said the factory premises are in poor condition and noted that he had personally discussed the issue with Gagik Tsarukyan in the past.

"I saw aerial footage of the Araratcement plant in the news. Have you seen those images? That factory in the 21st century is nothing but a ruin and an object of plunder. Billions were earned there, and billions were taken away," he said after the government meeting, according to Factor.am .

Pashinyan said that about two years ago, while passing by the factory, he raised the issue directly with Tsarukyan.

"I did not have drone footage at the time. I simply drove past the factory and told Mr. Tsarukyan on one occasion that it was a shame — at least fix the entrance. It looked like a barn. With billions in turnover, at least spend a little money to put the entrance in order. Just look at the entrance from above and ask yourselves whether the person using the factory behaves like its owner.

Now, thankfully, it has come under state management. I am convinced that, just as in the case of the Electric Networks of Armenia, we will learn many more things. The more revelations emerge about the Electric Networks of Armenia, the stronger the 'Kaluga oligarch's' desire becomes to carry out new charitable initiatives, apparently to show that what was taken was not kept only for himself but shared with the people. There is only one real way to share with the people — through state and municipal resources, because that is the people's pocket. Everything else is a trap for the people, as we have seen in previous years," Pashinyan said.

Earlier, Armenia's Prosecutor General's Office reported that violations had been uncovered in Araratcement's acquisition of the Golden Key health resort. According to the statement, the resort, valued at 44.39 million drams, was sold in 2003 for 6.5 million drams, while the company allegedly submitted falsified documents claiming it had fulfilled its contractual obligations.

The Prosecutor General's Office also said that, while reviewing Araratcement's mining operations as part of its mandate to protect state and community interests, it had identified possible violations related to subsoil use permits and the fulfillment of related obligations.