Electric Networks Armenia CJSC team expresses its full support to  Samvel Karapetyan

ArmInfo. The team of the " Electric Networks of Armenia" company expresses it's full support to the great philanthropist, businessman, and owner of the company, Samvel  Karapetyan, as noted in the statement of the "Electric Networks of  Armenia" company and its trade union.

"Having worked with him for many years, we  know him as a person with  exceptional human qualities, always caring for each of us, a reliable  and loyal friend to our team. During important and difficult days for  our country, he was  one of the first to respond to all issues,  providing great support to our numerous compatriots and each member  of the team.

The company "Electric Networks of Armenia" has always done and  continues to do everything possible to provide consumers with  high-quality services  in accordance with the terms of its license.  We have repeatedly presented issues related to the quality of  services provided, particularly in relation to accidents.

Let us recall that in 2015, the Tashir Group of Companies took over  the management of an enterprise that was on the brink of bankruptcy,  with over 80% moral and physical depreciation. Following this,  efforts were made to initiate its physical and financial recovery,  including  the implementation of investment programs.  A total of 700  million dollars was invested. As a result, the company's electricity  losses significantly decrease, reaching an internationally acceptable  level of purely technical losses. Power outage indicators have also  improved, but there is still much work to be done. And we strive  daily to improve power outage indicators. We have submitted a package  of proposals to the Public Services Regulatory Commission for the  modernization and reconstruction of the distribution network aimed at  enhancing the quality of the services we provide, and we are awaiting  a response.

"Electric Networks of Armenia" is currently in a financially stable  condition. The company's credit rating is higher than the sovereign  credit rating of the Republic of Armenia. Over the years, the company  has implemented international management standards and has  prioritized environmental and social programs, which are among the  priority areas of our company's development. We are confident that  the rule of law will prevail in Armenia, as a legal state, and our  leader will very soon return to his large working family, and most  importantly, to the implementation of numerous programs for the  homeland,", the statement says.

Recall that the Armenian government, represented by Prime Minister  Nikol Pashinyan, has initiated political persecution of Samvel  Karapetyan, famous Armenian-Russian businessman and head of the  Tashir Group of Companies. He was detained for two months for alleged   "calls to seize power", following his speech in full support for the  Armenian Apostolic Church and condemning any attempts by the ruling  elite to discredit it.