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GAS PRICE TO GO UP AGAIN

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But it will remain the same for the residents

Today Karen Karapetyan, executive director of “ArmRusGasArd,” repeated his words that their company has little profit. It is the largest tax-payer in the country, and they intend to get at least 40 million USD annual profit.

For instance, the company will have only 3 million 750 thousand USD profit by the end of the year but they have already made investments of 83 million USD.

Mr. Karapetyan claims that the gas tariffs are comparatively low in Armenia. “We might issue an application to the Committee Regulating Public Services by the turn of the year to increase the tariffs,” said Karen Karapetyan and then, trying to comfort the journalists, added, “But it doesn’t refer to the subscribers, don’t worry on this score.”

This refers to the companies utilizing gas all over the country. The state gave them subsidies to compensate part of the increased tariffs.

Mr. Karapetyan was also concerned about the wrong distribution of the subsidies. “If the subsidies were distributed effectively, it would give an excellent opportunity to the Armenian manufacturers to take their products to the international market,” says the director of “ArmRusGasArd.”

Karen Karapetyan announced that their company also intends entering the international market in order to prove that besides cognac, Armenia can have other brandy as well.