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The draft law on Making Addenda to the Law on State Property Privatization Programme for 2017-2020 was debated in the first reading.

According to the Chairman of the State Property Management Committee Arnak Avetisyan, it is proposed to include the state-owned “Armenikum” CJSC and “Her-Her” Hydroelectric Power Plant CJSC in the list of privatization objects for 2017-2020.

It was noted that the activity carried out by “Her-Her” Hydroelectric Power Plant CJSC is not considered a monopoly. The majority of hydroelectric power plants in Armenia are private, and there are no restrictions on holding company shares under the state property.

Regarding “Armenikum” CJSC, the laws regulating the sector do not prohibit the provision of similar services by other organizations.

According to the key rapporteur, the inclusion of companies in the list of privatization is aimed at increasing the efficiency of their activities, improving the competitive environment, increasing the share of private capital in the formation of GDP of the country, as well as increasing the revenues of the RA state and community budgets at the expense of the funds received from the privatization of the state property.

The deputies’ questions referred to the profitability of the companies, the expediency of their privatization, property valuation, etc.

Hovik Aghazaryan, a member of the NA Standing Committee on Economic Affairs, who was chairing the meeting, noted that the privatization of “Armenikum” CJSC is of particular importance, and it should be privatized, ensuring its transparency.

As a result of the debate, the draft law was endorsed.

The draft law on Making Amendment and Addenda to the Law on State Property Management was also debated in the first reading. The adoption of this draft law, according to the RA Chairman of the State Property Management Committee Arnak Avetisyan, is conditioned by requirements of Article 6.2 of the Constitution and the need to implement the Prime Minister’s instruction.

According to the key rapporteur, as a result of the adoption of the draft, the application of the decisions of the Government and the Prime Minister, which do not have the corresponding authorizing norm, will be excluded.

Arnak Avetisyan also noted that fundamental reforms are implemented in the state property management system.

The draft law was endorsed.

The issues were debated at the extraordinary sitting of the NA Standing Committee on Economic Affairs convened on July 4.