Sarkisian: Armenian Government to Assume the Burden of Price Increase Until Audit Conducted

YEREVAN — Armenian President Serzh Sarkisian held consultations with the agencies responsible for the Republic’s economic policy to discuss issued of energy security and solution of existing problems.

The president’s press office informed that today Serzh Sargsyan met with the executives of the economic policy of Armenia and discussed the energy security of Armenia, further revitalization of the energy sector and solution of the existing problems.

In his remarks president Sarkisian stated: “We have mapped our steps. Yesterday, during the meeting with the chairman of the Russian side of the intergovernmental commission of the Armenia-Russia economic cooperation, the Russian minister of transport Maxim Sokolov we talked that it would be advisable to have the intergovernmental commission to consider the possibility of a thorough audit of the activities of Electric Networks of Armenia, the subsidiary of Inter RAO UES, for the whole duration of their operation, with the engagement of expert community and the civil society representatives.

“I truly believe that the increase in price is justified. I also believe that unless we increase the price, the energy system will collapse with the domino effect.

“I propose choosing an international consulting company which has extensive experience in energy and a good reputation in the world, if need be, engaging some of the active guts of the protests, and order this company to engage an audit company.

“Until the conclusion by that company is finalized, the government will assume the whole burden of the increase in price. Certainly, we will not touch the ongoing programs or social expenses, we will raise the amounts from the funds envisaged for further strengthening of security.

“If the audit comes to prove that the price hike is justified, the consumers will start paying the cost. In case the audit concludes that the planned price hike was groundless, the government will do its best to get back the sums spared by the Electric Networks and will call the officials to accountability.” President Sarkisian stated.