Armenian MPs intend to limit wages of top managers of large energy  companies

ArmInfo.The MPs of the Armenian parliament intend to limit the salaries of top managers of large energy companies. Amendments to the law "On Energy" were  discussed at a meeting of the parliamentary Standing Committee on  Economic Affairs on February 26.

According to MP  of the National Assembly from the "My Step" faction  Artak Manukyan, who submitted the amendments, it is proposed, in  particular, to set the upper limit for the salaries of company  leaders who are natural monopolists by their status. In particular,  it is planned to establish a base salary for them, which will  correspond to the salary of heads of state administration bodies -  1.3 million drams. In addition, the leaders of large companies will  be able to receive bonuses from the funds of these companies, but in  such a way that these premiums are not linked to tariffs. At the same  time, the Board of Directors should establish the size of the bonus  fund.

In turn, chairman of the Committee Babken Tunyan, co-author of the  proposed bill, emphasized that top managers of natural monopolists  receive an astronomical salary of up to 20 to 40 thousand dollars a  month, and consumers are paying for this inadmissible luxury.

Meanwhile, Deputy Minister of Energy Infrastructures and Natural  Resources of the Republic of Armenia Hakob Vardnyan noted that even  with a premium fund, consumers will still have to pay. He added that  the bill, in fact, will be distributed to several companies. So, for  the Vorotan Cascade of hydroelectric power stations, the Masrik-1  solar power plant under construction, the document does not apply,  since they are undergoing construction work and no premium fund has  been created in these companies. The law will also not work in  relation to "Electric Networks of Armenia", as the company has  special relations with the Commission for Regulating Public Services.  These relations are connected with the tariff component in the  investment program of networks in the amount of about $ 1 million.  Only at the end of this program in 2028 can the provisions of the  bill be applied. Negotiations are underway with Gazprom Armenia on an  agreement with the PSRC on the tariff component for the long term,  based on the investment program of the company. Thus, as the deputy  minister noted, there will remain 2-3 companies in which the salaries  of managers correspond to the proposed base amount.

After heated discussions, it was decided to postpone the vote on the  draft bill for two months.