YEREVAN. – The “audit” lesson means nothing for the Electric Networks of Armenia (ENA) CJSC; its sole purpose is to buy time.

Economist Vardan Bostanjyan said the aforementioned at a press conference on Wednesday.

“There has always been an audit at the ENA, (…). But it should be found out who were those people that have given the corresponding orders,” noted Bostanjyan. “However, there is no need for that either; everything is already clear.”

He added that the government’s reimbursement for the forthcoming electricity price hike is not an answer.

“Where will they get that money from?” asked the economist. “If the government is compensating, this also will be done at our expense.”

Vardan Bostanjyan noted that a large company such as the ENA should be state-owned.

Despite numerous protests, the Public Services Regulatory Commission of Armenia recently increased the price of electricity in Armenia by 6.93 drams—instead of 17 drams, proposed by the ENA—, per cubic meter, and this decision will take effect on August 1. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.

President Sargsyan, however, stated that the government will cover this price hike until an audit is conducted at the ENA, which supplies electricity to the country’s residents. Sargsyan also said he does not rule out returning the company to the Armenian government and transferring it to competitive management, if the audit shows that the aforesaid increase in electricity prices is unjustified.