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Haykakan Zhamanak: Electric Networks Of Armenia On Brink Of Bankrupt

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  • Haykakan Zhamanak: Electric Networks Of Armenia On Brink Of Bankrupt

    HAYKAKAN ZHAMANAK: ELECTRIC NETWORKS OF ARMENIA ON BRINK OF BANKRUPTCY

    Tuesday,
    July
    01

    Electric Networks of Armenia Company (ENA) released its 2013 financial
    statement with the conclusions of Ernst & Young accounting firm.

    'Haykakan Zhamanak' daily writes that ENA's losses amount to 4 billion
    470 million drams. This circumstance along with several others bears
    evidence of uncertainty that may call in question the company's
    ability to continue to work uninterruptedly, according to Ernst &
    Young's audit results.

    In other words, ENA is on the brink of bankruptcy. For this reason
    Armenia's Public Services Regulatory Commission decided to raise the
    electricity tariff and will hold a sitting today.

    TODAY, 10:55

    Aysor.am

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