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  • State loans to be repaid

    Azat Artsakh - Republic of Nagorno Karabakh (NKR)
    May 1, 2004

    STATE LOANS TO BE REPAID=20

    The meeting of the NKR government discussed a number of draft laws and
    decisions of important social-economic role for the country. The
    meeting was conducted by the NKR prime minister Anoushavan Danielian.
    Minister of finance and economy Spartak Tevossian presented
    information on the bill "On confirming the annual account on execution
    of the NKR state budget of 2003", the first point in the
    agenda. During the discussion the bill was approved and it was decided
    to send the draft law to the parliament. In his speech prime minister
    Anoushavan Danielian dwelled on the necessity to restore the repayment
    of loans provided by the NKR government formerly. All the members of
    government who addressed the meeting supported him. The heads of the
    corresponding agencies and the regional administrations were tasked
    with scheduling the procedure of repayment of expired loans and
    present suggestions on restructuring of loans to be included as a
    source of current incomes during drawing up the budgets of communities
    starting with 2005. The prime minister wondered on the low rates of
    loan repayment and the tolerable attitude of the supervising agencies
    and demanded taking strict measures in reference to
    lawbreakers. According to him, the process of repayment is not
    coordinated duly. He considers unacceptable the fact that having a
    strong state structure the legal levers of influence upon the
    lawbreakers are not used adequately to return the sums. A. Danielian
    mentioned that new programs of loaning will be considered only after
    the full repayment of the former loans. The government members
    discussed the NKR bill "On Confirming the annual account of 2003 on
    implementation of the 2002-2003 program of privatization of state
    property". As a result of this program the number of private
    enterprises grew, and the efficiency of their activity is illustrated
    by the fact that 62.9 percent of the GDP of NKR is provided by the
    private sector. The purchasers of the privatized companies implement
    in a short period of time their payment obligations to the NKR state
    budget and the NKR state pension fund. Of the 23 privatized companies
    13 companies or 56.6 percent were put out to tender, 8 companies or
    34.8 percent were privatized through direct sale, and 2 companies or
    8.7 percent were privatized through direct free extension. The new
    owners of the privatized companies assumed the obligations of making
    investments and providing social guarantees to the personnel
    (maintenance of jobs, stable salary, etc.) the receipts from
    privatization totaled 347 million drams (of which 283.8 million drams
    from privatization of state property in 2003), including privatization
    of companies 290.5 million drams, privatization of units of the
    inventory of the companies 24.7 million drams, small and half-ruined
    buildings 31.5 million drams and unfinished buildings 1.2 million
    drams. The total sum of the obligations transferred to the purchasers
    of the privatized companies in 2002-2003 is 447.7 million drams. Of
    the 75 companies included in the program 23 were privatized and 9
    companies were dissolved according to the NKR government
    decisions. The execution of privatization and dissolution of companies
    in 2003 was 42.7 percent against the 14.8 percent of 2002. In
    comparison to 2002 the number of privatized companies increased
    twice. The account provides the real picture of the process of
    implementation of contract obligations. According to this, a number of
    companies (enterprises) did not implement their contract obligations
    at full. In the past years purchasers of 14 companies privatized by
    investment programs and whose term of implementation of contract
    obligations has expired assumed making 1729 billion drams of
    investments and opening of 359 jobs. The amount of investments made
    totaled 2219.6 million drams and 580 jobs were created. According to
    the mentioned rates, implementation of obligations was 128.3 and 161.6
    percent respectively. The members of the government approved the
    bill. Among the questions in the agenda was the account on
    implementation of the 2003 state program of development of small and
    medium-size business, which was presented by the NKR vice minister of
    development of industrial infrastructures and building A. Abrahamian.
    It includes the period from January 2003 to January 1, 2004. Starting
    from the financial capacity of the foundation the loan resources (with
    volume restrictions) were directed at the communities providing
    territorial symmetry of development of small and medium-size business,
    as well as for implementation of large business plans the means of the
    debtor were involved. Mainly the business plans presented for
    viticulture, orcharding, cattle breeding and fish breeding,
    fabrication of food and agricultural products were loaned. Last year
    138 applications for loan were presented to the foundation but
    starting from financial abilities, 43 applicants received loans with
    the total sum of 180 million drams. A. Abrahamian mentioned that the
    granted sums were mainly used according to the business plans, there
    were a few exceptions. After the interference of the board of trustees
    of the foundation definite steps were taken at implementation of
    business plans. Stressing the importance of loaning aimed at
    development of small and medium-size business the prime minister
    emphasized that the process must be absolutely transparent for
    everybody and the mass media must inform the public about the business
    plan and even the personal data of entrepreneurs. The meeting of the
    government discussed a number of bills on simplification and
    improvement of the tax system. Decisions were made on granting aid to
    definite groups of the NKR population on the occasion of the Day of
    Victory, the Liberation of Shoushi and the NKR Defence Army. Decisions
    were made on continuing the process of reforms in the structure of the
    police, on establishment of the governmental institution "the
    personnel of the regional administration", on confirming the code and
    structure of the personnel. The executive also confirmed the bills on
    the number of free and paid places in NKR state higher educational
    institutions for the academic year 2004-2005 and the lists of
    specialties of admittance to master=E2=80=99s course and postgraduate
    course of Artsakh State University for 2004.=C2=A0=20

    AA.
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