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