Manufacturers Union chief: energy prices may soar after Vorotan saleAugust 20, 2014 - 16:06 AMT PanARMENIAN.Net - The head of the Union of Local Manufacturers is opposed to the sale of Vorotan Cascade of Hydroelectric Power Plants CJSC. Vazgen Safaryan believes that Vorotan, which generates the cheapest energy resources, should be a governmental property. “With the effective work of the HPP, the sale makes no sense, but rather becomes an economic mistake that might lead to further increase in energy price,” he noted. Prosperous Armenia faction member, economist Mikael Melkumyan also expressed concern over the issue. “We’re not questioning the fact that the buyer is a deserving one, our problem is with the sale of Vorotan,” he said. Commenting on whether the sale is legal, Melkumyan stated that the transaction can be characterized as a takeover, rather than sale, and there’s no legislation on takeovers in Armenia, Tert.am said. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |