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DOES ARMENIAN GOVERNMENT TAKE BACK SAVED OR EMBEZZLED MONEY FROM COMPANY?
news.am
Sept 22 2011
Armenia
With the Armenian government's decision on Thursday, the Tamara
Fruit company will have to return 56 million drams ($148,466 US) to
state budget. By way of Russian credits, the Armenian government had
provided a 300-million-dram ($795,355) grant to this company in 2009,
to create organic gardens. And according to the government's decision
on Thursday, Tamara Fruit had acquired more seed material than planned,
and, as a result, 56 million drams were saved.
The government, therefore, had decided that the aid money should
comprise 244 million drams ($646,889), instead of 300 million. In
addition, Armenia's Control Chamber had recorded several violations by
Tamara Fruit in using state funds. That is, by indicating seedling and
other material prices higher than the actual market price, Tamara Fruit
had received an extra 77.5 million drams ($205,466) from state budget.
In addition, the Ministry of Agriculture had immediately transferred
the 300 million drams to Tamara Fruit. Thus, the Government of Armenia
took back, in part, its generous "gift" to the company, but presented
it as "return of saved funds," in the case when the Control Chamber
indicates incorrect calculations.
news.am
Sept 22 2011
Armenia
With the Armenian government's decision on Thursday, the Tamara
Fruit company will have to return 56 million drams ($148,466 US) to
state budget. By way of Russian credits, the Armenian government had
provided a 300-million-dram ($795,355) grant to this company in 2009,
to create organic gardens. And according to the government's decision
on Thursday, Tamara Fruit had acquired more seed material than planned,
and, as a result, 56 million drams were saved.
The government, therefore, had decided that the aid money should
comprise 244 million drams ($646,889), instead of 300 million. In
addition, Armenia's Control Chamber had recorded several violations by
Tamara Fruit in using state funds. That is, by indicating seedling and
other material prices higher than the actual market price, Tamara Fruit
had received an extra 77.5 million drams ($205,466) from state budget.
In addition, the Ministry of Agriculture had immediately transferred
the 300 million drams to Tamara Fruit. Thus, the Government of Armenia
took back, in part, its generous "gift" to the company, but presented
it as "return of saved funds," in the case when the Control Chamber
indicates incorrect calculations.