Government may receive stake in Electric Networks of Armenia

The Armenian government may appoint a consortium management in Electric Networks of Armenia or consider acquiring a stake in the company, Chairman of the Public Services Regulatory Commission Mesrop Mesropyan told journalists, Report informs via Armenian media.

According to Mesropyan, the commission should consider the appeal of the Ministry of Territorial Administration and Infrastructure, which reported violations in the work of Electric Networks of Armenia.

For this purpose, the government has appointed a temporary administrator to the company. Three months are needed to conduct the inspection (the period can be extended for another month).

Russian businessman Samvel Karapetyan, who was arrested in Yerevan, and his family won an urgent arbitration case they initiated against the Armenian government over the Electric Networks of Armenia.