New Committee Established in National Assembly To Discuss Lawfullness of Financial Reports Submitted by Metallic Mining Companies

New Committee Established in National Assembly To Discuss Lawfullness of Financial Reports Submitted by Metallic Mining Companies

EcoLur

An Investigative Committee has been set up at the National Assembly of the Republic of Armenia to study the lawfulness, substantiation, and reliability of the financial and other reports submitted to the executive authorities within the investment programs in the metal mining industry. The committee was created at the request of 33 deputies of the Prosperous Armenia and Bright Armenia factions. In their letter addressed to RA NA Speaker Ararat Mirzoyan regarding the establishment of the committee, the following was proposed by the MPs:

• Request and receive reports, documents and other necessary information on the issues under examination by the Committee.

• Order expert examinations and draw conclusions.

• Invite competent officials to the Commission as well as those who have submitted information on the Committee’s area of ​​competence.

Sergey Bagratyan, a member of the Prosperous Armenia faction of RA National Assembly, was nominated for Chair of Committee and to set the term of office for 6 months.

On October 4, the National Assembly of the Republic of Armenia adopted the decision of the National Assembly of the Republic of Armenia defining the number of the members of this committee according to which the committee will have 11 members.

It should be reminded that in March 2017, Armenia became a candidate country for the Extractive Industries Transparency Initiative (EITI) with the aim of ensuring transparency in the mining sector, participatory governance, improved investment environment, mutual trust between the parties.

The names of the real owners must be published by January 1, 2020. Names of less than 10 percent shareholders may not be published.

This material has been prepared within “Mining-Impacted Communities – Full Participants in EITI Process'” project implemented by EcoLur with the USAID support within the frames of “Engaged Citizenry for Responsible Governance” project implemented by Transparency International Anticorruption Center.


This article is made possible by the generous support of the American People through the United States Agency  for International Development  (USAID). The contents of this article are the sole responsibility of the authors and do not necessarily reflect the views of USAID or the United States Government.

14:27 October 08, 2019


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