Flats by hypothec crediting

Azat Artsakh Daily,
Republic of Nagorno Karabakh [NKR]

28-02-2008

On february 26th the next session of the NKR government took place,
convened by the NKR Prime Minister Ara Haroutyunian. Minister of
economical development Benik Babaian represented to the executives'
discussion a whole range of agendal questions. By the drafts of
suggested decisions, which met with government's approval, various
changes and additions were done in the bills and orders, conforming
the systematization of the questions to today's requirements.

The executive, particularly confirmed a new order of alienation
of trade companys' property.In accordance with it an alienation
of property is realized by auction. The means are directed to the
NKR budget, if by the government's decision another direction is
not foreseen.

Changes and additions were suggested also in NKR laws "About state
fee".

The executive after the discussion has established a draft, according
to which it is foreseen in NKR to prelong the period of flats'
privatization also two years. In the government it was hoped that at
last it would be possible to finish the delayed process in 2009.

At the session of the NKR government an important document was
established.An order of satisfaction of state assistance of acquiring
flats by hypothec crediting by banks were identified.The hypothec
program first of all will be realized in Stepanakert and district
centres of the republic.For acquiring flats a credit will be allocated
till a period of 20 years, by 12 % pay yearly, half of which the
state fund will pay off.

Just after the government's session the NKR Prime Minister Ara
Haroutyunian convened a conference with the leaders of NKR boards
of administration. Questions of repayment of overdue credits,
making black arable land, increasing of productivity of boards of
administration's work were discussed at the conference. The Prime
Minister gave concrete assignments to the executives of regions,
appealed them to act more purposeful.