Pashinyan stated that the nationalization of Electric Networks of Armenia will not be a burden on the state budget
05.03.2026,
15:27
The decision to fully nationalize Electric Networks of Armenia (ENA) was made based on an expert opinion on the company's market value, Prime Minister Nikol Pashinyan stated at a briefing, responding to a question about whether nationalization would lead to an additional burden on the state budget.
YEREVAN, March 5. /ARKA/. The decision to fully nationalize Electric Networks of Armenia (ENA) was made based on an expert opinion on the company's market value, Prime Minister Nikol Pashinyan stated at a briefing, responding to a question about whether nationalization would lead to an additional burden on the state budget.
"This will not be a burden on the budget. The company has long been used for narrow interests; it is burdened with loans. Moreover, these loan funds were transferred to relatives as interest-free loans," Pashinyan said.
Earlier, ENA interim manager Romanos Petrosyan stated that February 21 was the deadline during which the government was supposed to make an offer to ENA's owners to buy it out and negotiate the transfer of 100% of its shares to the state.
According to him, after this date, in accordance with the Constitution, the government must recognize 100% of ENA's shares as a priority public interest and, after compensation is paid, nationalize them. The process has entered this stage, Petrosyan noted.
"This will not be a burden on the budget. The company has long been used for narrow interests; it is burdened with loans. Moreover, these loan funds were transferred to relatives as interest-free loans," Pashinyan said.
Earlier, ENA interim manager Romanos Petrosyan stated that February 21 was the deadline during which the government was supposed to make an offer to ENA's owners to buy it out and negotiate the transfer of 100% of its shares to the state.
According to him, after this date, in accordance with the Constitution, the government must recognize 100% of ENA's shares as a priority public interest and, after compensation is paid, nationalize them. The process has entered this stage, Petrosyan noted.
