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At September 5 regular sitting moderated by Babken Tunyan, the NA Standing Committee on Economic Affairs in the second reading debated and endorsed the draft law on Approving the 2022 Annual Report of 2017-2020 Programme Implementation of State Property Privatization.

According to the Head of the RA State Property Management Committee of the Ministry of Territorial Administration and Infrastructure Arnak Avetisyan, during the financial period, the means received from the privatization were 845.281.16 AMD, the means received from the payments subject to payable in installments during the financial period from ‘small’ entities privatized in the previous years – 19.066.01 AMD. 607.020.09 AMD entered at the expense of the privatization to the state budget of the Republic of Armenia, and 238.261.07 AMD – to the community budgets.

It was noted that during the financial period changes were made in the programme. Herher and Armenikum CJSCs were included in the privatization list.

As Arnak Avetisyan assured, during the period from the first to the second reading proposals were not presented.

The draft law on Amending the law on Limited Liability Companies (LLC) also was debated in the second reading and endorsed. It is proposed to distribute not annual, but quarterly profit between the participants of the Company. The purpose of that regulation is to facilitate the profit distribution process by the LLC, as well as to abstain from artificial regulations, for example, to provide loans to the shareholders of the Company, etc. According to the Minister of Economy Vahan Kerobyan, the adoption of the initiative will promote the improvement of the business environment and the creation of the LLC and the implementation of investments there. No amendments were made from the first to the second reading.