YEREVAN. - The national film studio Armenfilm and not the State Fund of Films of Armenia has been offered for privatization.

The representatives of the State Property Management Department of Armenia told the aforementioned, referring to the 2017-2020 Privatization Program, which has recently been adopted by the Armenian parliament.

When the state returned the film studio after the unsuccessful privatization in 2005, the State Fund of Films of Armenia was placed under the management of the Culture Ministry. For this reason the fund is included neither in the film studio balance nor in the privatization package.

As to the incomes, in the recent years Armenfilm operated at a loss, improving its income in 2016, but only nominally—68,000 AMD ($140).

“The effective work of the film studio requires more funds. The state doesn’t provide for such a support, thus it is more expedient to privatize this company,” the agency representatives noted.

The program includes overall 47 enterprises for which the state—according to the estimates of the Committee—will receive roughly 35 billion AMD (approx. $73 million).