Hrazdan-Cement plant relieved from debts (video)
On May 11, the Armenian National Assembly voted 104-0 to pass a bill that suggests amending the RA Law on Funded Pensions. During the extraordinary sitting convened at the initiative of the RA Government, the legislature also gave a green light to a bill proposing to exempt Hrazdan-Cement plant from fines generated by its failure to pay taxes and other mandatory payments in due time and transferring it to the management of VTB Bank. There were 86 votes in favour, 8 votes against and 9 abstentions. Thus, the plant was relieved of its debts that totaled 595 million drams. The debts had accumulated as a result of unpaid taxes. The company's accounts are blocked while the property is pledged to VTB Bank. Before that, the plant was owned by Mikhail Bagdasarov, President of MIKA Armenia.
