YEREVAN. - The proposal to privatize Armenia’s National Post Service has been introduced in Armenia’s parliament. The bill on including the national postal operator Haypost CJSC in the privatization list was introduced by Arman Sahakyan, Head of State Property Management Department adjunct to the Government of Armenia.  

Currently the operator is under the confidential management of ‘HayPost Trust Management’ company, which is controlled by the Argentinean-Armenian billionaire Eduardo Eurnekian.  

Transfer of both the management and stock package to business will accelerate investments and efficiency of the postal service, as well the modernization of its infrastructure, Sahakyan said.

Armenia’s postal network currently includes 885 postal departments, which render services to over 750 thousand addresses.   

In 2007-14, the managing company invested over 5 billion AMD (approx. US $10,5 million by current rate), paying 1 billion 570 million AMD profit tax.