YEREVAN. – The Government of Armenia and the “Tashir” charitable foundation will subsidize, evenly and for one year, the electricity tariff rise in the country.

The Minister of Energy and Natural Resources, Yervand Zakharyan, stated the abovementioned at Thursday’s Cabinet meeting.

The respective compensation, which was approved on the same day and retroactively, will be in force from the aforesaid rise on August 1, 2015 to July 31 next year.

But it is not yet clear whether this subsidy will continue after July 2016, since it is still unknown what price will be set in August next year.

Zakharyan also noted that Deloitte & Touche CIS consulting firm has submitted to the Armenian government the report on the first phase of its audit, and whereby the Public Services Regulatory Commission decision on increasing the electricity prices is considered justified.