“Nairit” $576 000 in Debt

YEREVAN (Noyan Tapan)–The "Nairit" enterprise management continues to seek means of payment of unpaid wages it inherited from the former management–while it pays current wages. $576,000 have to be paid in unpaid wages. "Nairit" employees continue to demand pay from management.

Enterprise manager Gagik Nersissian assured Noyan Tapan that he would find a way of ending the crisis. Possible dates of wage payment have already been specified.

However–Nersissian said that the future of the enterprise seems gloomy. The management submitted to the government their proposals for the solution of the problem.

The first variant implied freezing all debts of the enterprise for the next five years and obtaining $10-11 million on the security of the state. According to the manager–this sums would be spent to set up a large-scale enterprise–with profit ensured with 10-12,000 tons of annual production. Nersissian said that although Russian enterprises are unable to pay for their orders–it is advisable that these orders be filled and their costs recalculated in the Russian-Armenian interstate debts–with the Armenian government returning the money to the enterprise in the future.

The second variant suggested to temporarily close down Nairit–which will require 2.5 billion drams during 6 months and 1,000-1,200 workers to guard and control the enterprise.

The last variant suggested liquidation of the enterprise and sale of its parts.

Nersissian expressed his confidence that the new government aiming at restoring the state’s industry will accept the first variant.

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