In event of war, commercial organizations will be instructed to maintain part of Armenia’s material reserve

YEREVAN. – Given the geopolitical situation of Armenia, in the event of hostilities by the enemy by way of the road blockade of the country, the solution of the issue of providing the needs of the population and armed forces of the republic is at the forefront. Deputy Minister of Emergency Situations Ara Nazaryan stated this today at the sitting of the parliamentary Standing Committee on Defense and Security, during the discussion of the package of bills on material reserves and the legislative amendments to the laws thereon.

The deputy minister also emphasized that the analysis of past experience shows that the approaches adopted in the conditions of liberal economic relations in Armenia can no longer be considered satisfactory as they do not ensure the development of the material reserve.

Nazaryan noted that significant financial resources are required to form a strategic reserve, whereas the current regulatory framework does not provide sufficient efficiency in updating and replacing material assets, and this results in losses and requires large financial investments.

The deputy minister added that under this legislative package, it is proposed to transfer 10 percent of Armenia’s state material reserve to commercial organizations for conservation purposes.

At the same time, the official noted that the purpose of this legislative package is to create a legal framework for the development and reform of the material reserve system in Armenia, as well as its modernization and replenishment.