YEREVAN. – The situation at the "Electric Networks of Armenia," which belongs to "Inter RAO," will be satisfactorily resolved, but it takes time, head of the company Boris Kovalchuk said and added that the organization is busy with making order in the company.

“Situation in Armenia is quite tense, there have been searches, seizures. We are busy with making order in the company, top-manager is dismissed and some violations were revealed,” Kovalchuk said and stressed that Armenian authorities are aware of it, Oilru.com reports. “Authorities supported us. However, we relate to the situation quietly. Time requires regulating the situation. Besides, I cannot say whether it would be long, the problem is big but we will overcome it. We are absolutely satisfied with the support of the authorities.”

As Armenian News-NEWS.am reported earlier, State Revenue Committee of Armenia conducts searches and seizure of documents in "Electric Networks of Armenia." The searches are conducted within the frameworks of a criminal case, instigated as a result of tax checking. The Committee claims that the company did not pay the income tax, VAT, compulsory social insurance payments, amounting to AMD 1.9 billion ($5.1 million).