Thursday, April 20 2017 18:45
Naira Badalian

Tension over Vinar: simple fraud or glitter and poverty of Armenian economy

Tension over Vinar: simple fraud or glitter and poverty of Armenian  economy

ArmInfo. Vinar Company, from 2015  owing farm enterprises of Ararat marz above 100 mln AMD, does not  incline liquid assets to provide payment on depts. Robert Makaryan,  Deputy Minister of Agriculture in Armenia informed ArmInfo. Moreover,  the company,which turnover formed million dollars earlier, does not  incline with anything: the producing was organized in leased  territory, and the alcohol impounded by the republic turned "non  brandy" and absolutely illiquid, and what is the most important Vinar  did not have license on the given activity. Some part of the alcohol  turned of the best quality and Agriculture Ministry managed to sell  it, giving only a small part of the depts.

As Ignatiy Araqelyan,  the head of Armenian Agriculture Ministry told  the journalists on April 20 after Government session, Agriculture  Ministry with Prime-Minister and law enforcement officials of the  country will discuss current situation related to Vinar company's  depts. to find ways of problem decision.  At that, the Minister  accepted that the Government has rods to affect the company-debtor,  but there are nor rods to pay the depts.

Ignatiy Araqelyan recalled that at the end of 2016 the Ministry of  Agriculture  applied to the General Prosecutor's Ofice to restore  violated rights  of farmers related to non-paid debts by the  processing plants. "The  General Prosecutor's Office studies the case  and it will be legally  solved", he stated. As a result, a criminal  case was opened on this fact. Anyways, the head of the Ministry does  not see exit from this situation, besides he can suggest the system  of justice, but it will not help simple villager. "What exit can be  if one cheated another and he does not have anything to pay", the  Minister said, only noting that the current situation evidences how  business area developed in the country, where one cheat others ion  planned scenario in advance.

Meanwhile, today once again in front of Government House fermers of  Qaghtsrashen village came to protest, who  Vinar owed for purchased  gripes in 2015. Gathered people complained the Minister that as a  result of non-payment they owe to land tax and other obligatory  payments, in some cases that dept goes over 2 mln AMD let alone  penalties and fines.

POST A COMMENT
Input digits     


News
Deputy PM promises to consider  MP`s proposal to reduce sugar  consumption in ArmeniaDeputy PM promises to consider  MP`s proposal to reduce sugar  consumption in Armenia
20 million drams for Artsakh students, 10 million drams for a kindergarten for Artsakh children: IDBank20 million drams for Artsakh students, 10 million drams for a kindergarten for Artsakh children: IDBank
David Ananyan on Crossroads of Peace project David Ananyan on Crossroads of Peace project 
Inspection Authority: Another 11 organizations  get licenses to  export flowers to RussiaInspection Authority: Another 11 organizations  get licenses to  export flowers to Russia
Yerevan to host Discover Armenia festival Yerevan to host Discover Armenia festival 
Landslide blocks traffic on section of Mtskheta-Stepantsminda-Lars  roadLandslide blocks traffic on section of Mtskheta-Stepantsminda-Lars  road
New goods traceability rules to take effect in Armenia New goods traceability rules to take effect in Armenia 
The Power of One Dram Turns FiveThe Power of One Dram Turns Five
Martin Galstyan: Foreign partners reaction to  peace agreement  between Armenia, Azerbaijan in Washington is positiveMartin Galstyan: Foreign partners reaction to  peace agreement  between Armenia, Azerbaijan in Washington is positive
AraratBank and “4090 Charity” Foundation: 2309 Meters Above the EarthAraratBank and “4090 Charity” Foundation: 2309 Meters Above the Earth
Martin Galstyan:  Armenia`s economic growth is projected to be  4.9-5.3%  in 2025Martin Galstyan:  Armenia`s economic growth is projected to be  4.9-5.3%  in 2025
 ENA CJSC issues statement regarding queues for connection to   distribution network ENA CJSC issues statement regarding queues for connection to   distribution network
Pashinyan discusses  fiscal and expenditure framework of  Medium-Term  Expenditure Program (MTEP) for 2026-2028Pashinyan discusses  fiscal and expenditure framework of  Medium-Term  Expenditure Program (MTEP) for 2026-2028
idcoins and profitable mortgage loans. IDBank at TOON EXPO YEREVAN 2025idcoins and profitable mortgage loans. IDBank at TOON EXPO YEREVAN 2025
 SRC head  thanks Iranian ambassador for effective cooperation in  tax  and customs spheres SRC head  thanks Iranian ambassador for effective cooperation in  tax  and customs spheres
Yerevan Municipality offers tax benefits for incomplete projects to  developersYerevan Municipality offers tax benefits for incomplete projects to  developers
 RA MFA responds to report on `Pakistan-Armenia deal`  RA MFA responds to report on `Pakistan-Armenia deal` 
Pakistan to recognize Armenia as UN member state, Armenia to give  green light to Pakistan`s accession to EAEUPakistan to recognize Armenia as UN member state, Armenia to give  green light to Pakistan`s accession to EAEU
Record number of tourists in Armenia in May-Aug 2025Record number of tourists in Armenia in May-Aug 2025
Regulator fines companies for unreasonably high prices for servicing  cash registers Regulator fines companies for unreasonably high prices for servicing  cash registers 
Ardshinbank Participated in Toon Expo 2025 Real Estate ExhibitionArdshinbank Participated in Toon Expo 2025 Real Estate Exhibition
Armenia`s debt to World Bank increasing Armenia`s debt to World Bank increasing 
Russian-Armenian businessman Samvel Karapetyan promises large foreign  investments for Armenia Russian-Armenian businessman Samvel Karapetyan promises large foreign  investments for Armenia 
Armenia`s electric energy output shows 6.5% y/y declineArmenia`s electric energy output shows 6.5% y/y decline
Armenian metallurgy industry`s output down Armenian metallurgy industry`s output down 
Further decline in Armenia;s industry Further decline in Armenia;s industry 
Armenia paid $5bln for mere talks about Armenia drawing closer to EUArmenia paid $5bln for mere talks about Armenia drawing closer to EU
Trump Road to facilitate Armenia-Russian communication as well - RF  vice-premier  Trump Road to facilitate Armenia-Russian communication as well - RF  vice-premier  
Share of Armenia`s TOP-5 trade partners 65% of trade turnover Share of Armenia`s TOP-5 trade partners 65% of trade turnover 
Unblocking South Caucasus puzzle consisting of numerous pieces -  Alexey Overchuk Unblocking South Caucasus puzzle consisting of numerous pieces -  Alexey Overchuk 
Armenia, Japan discuss economic cooperation prospects Armenia, Japan discuss economic cooperation prospects 
Italian Ambassador appreciates Armenia`s efforts to create a  favorable environment for foreign investment Italian Ambassador appreciates Armenia`s efforts to create a  favorable environment for foreign investment 
Instant idcoins ahead of the Armenia-Portugal football match: Idram&IDBankInstant idcoins ahead of the Armenia-Portugal football match: Idram&IDBank
Question for Central Bank: what is the cause of crisis in Armenian  payment market?Question for Central Bank: what is the cause of crisis in Armenian  payment market?
Armenia`s foreign trade turnover 42% down Armenia`s foreign trade turnover 42% down 
imID-provided Mobile ID system to be available to Team subscribersimID-provided Mobile ID system to be available to Team subscribers
Economic activity 7.1% up in Armenia in Jan-July 2025Economic activity 7.1% up in Armenia in Jan-July 2025
While speaking of peace, Armenian premier unable to esnure passage of  Armenian trucks through Georgian checkpoints - RPAWhile speaking of peace, Armenian premier unable to esnure passage of  Armenian trucks through Georgian checkpoints - RPA
Armenia`s State Revenue Committee reveals sale counterfeit vodkaArmenia`s State Revenue Committee reveals sale counterfeit vodka
Armenian premier visits Expo 2025 OsakaArmenian premier visits Expo 2025 Osaka
Russian diplomats get acquainted with Russia-sponsored UNDP projects  in Armenian Syunik Russian diplomats get acquainted with Russia-sponsored UNDP projects  in Armenian Syunik 
Armenia  to implement unified state information platform for  employmentArmenia  to implement unified state information platform for  employment
Saving time and money: Buying and selling cars in Armenia has gone  digitalSaving time and money: Buying and selling cars in Armenia has gone  digital
Converse Bank to improve MSME competitiveness within   EU4Business-EBRD programConverse Bank to improve MSME competitiveness within   EU4Business-EBRD program
Russia expecting twofold reduction in trade with Armenia by year`s  end Russia expecting twofold reduction in trade with Armenia by year`s  end 
1% idcoin within the framework of TOON EXPO: Idram&IDBank1% idcoin within the framework of TOON EXPO: Idram&IDBank
Yerevan-Kapan-Yerevan flights temporary suspended Yerevan-Kapan-Yerevan flights temporary suspended 
EBRD to provide EUR 46mln for establishment of Yerevan Customs and  Logistic Center EBRD to provide EUR 46mln for establishment of Yerevan Customs and  Logistic Center 
Armenian NPP to get AMD 1.035mln loan carried over from 2024 Armenian NPP to get AMD 1.035mln loan carried over from 2024 
Rise in food, services prices causes 3.6% y/y inflation in Armenia Rise in food, services prices causes 3.6% y/y inflation in Armenia 
AraratBank Joins ArcaPay with 0% Money Transfer CommissionAraratBank Joins ArcaPay with 0% Money Transfer Commission
Real estate to be checked for debts Real estate to be checked for debts 
Ardshinbank Launches Ardshinbank Launches "How to Become a Millionaire" Raffle
DigiTec 2025: over 40,000 guests, 100 global technology leaders, 250  companies expected to participate DigiTec 2025: over 40,000 guests, 100 global technology leaders, 250  companies expected to participate 
GPS modules connected to servers of Subsoil Inspectorate to be  installed on quarry equipment and dump trucks in ArmeniaGPS modules connected to servers of Subsoil Inspectorate to be  installed on quarry equipment and dump trucks in Armenia
Asian Infrastructure Investment Bank  ready to support  development  of  economic, scientific and educational spheres in ArmeniaAsian Infrastructure Investment Bank  ready to support  development  of  economic, scientific and educational spheres in Armenia
Deputy Finance Minister: Armenian government  to broad the scope of  countries with which it has double taxation avoidance agreementsDeputy Finance Minister: Armenian government to broad the scope of countries with which it has double taxation avoidance agreements
Realtors in Armenia to hold qualification certificates, and all real  estate sale and rental ads to be verified on online platformRealtors in Armenia to hold qualification certificates, and all real  estate sale and rental ads to be verified on online platform
High-Tech Ministry presents progress on  AI based  data processing  center developmentHigh-Tech Ministry presents progress on  AI based  data processing  center development
Armenian authorities to permit installation of charging stations for  electric vehicles in parking lots and at retail outletsArmenian authorities to permit installation of charging stations for  electric vehicles in parking lots and at retail outlets
Read more
Exchange rates
10.09.2025
RUB4.51-0.09
USD382.49-0.46
EUR447.51-2.53
GBP517.74-2.08
CAD276.01-1.31
JPY25.93-0.21
CNY53.71-0.07
CHF479.37-3.18