YEREVAN. – The Armenian authorities had petitioned to the President of Tashir Group, our compatriot Samvel Karapetyan, to discuss with shareholder [and Russian state-owned] Inter RAO company the matter of acquiring the Electric Networks of Armenia (ENA) CJSC.

The Prime Minister of Armenia, Hovik Abrahamyan, announced the aforementioned at Thursday’s Cabinet meeting.

“Thus, we can conclude that the [current electricity] tariffs are well-grounded and there is no need to change them,” Abrahamyan added, in particular. “[But] at the same time, we discussed the matter with the President of the Republic of Armenia, and decided that the government will do everything so that the price hike would not hinder the normal life activities of our citizens. 

“At our request, Tashir Group has committed to set up in the [ENA] company within five years a management in keeping with international standards, and to cut down the technological and commercial losses.”

As reported earlier, the Public Services Regulatory Commission of Armenia on Thursday reached a decision to sell all of the shares of the ENA to Tashir Group, which belongs to Moscow-based Armenian businessman Samvel Karapetyan.

In addition, and on a parity basis with the Government of Armenia, Tashir Group will cover a part of the electricity costs of the country’s general public and small businesses for the whole of 2015, thereby compensating the difference between the tariffs before and after indexation on August 1.