The main reason of the delay in assessing the investments allocated by Barmek Holding to Baku and Sumgait electricitynetworks is linked with the lack of several assets, the Deputy Economic Development Minister of Azerbaijan Mikail Jabbarov told, Trend reports. According to him, presently the listing of these assets missing assets and assessment of their costs are being carried out.
Due to the existence of inactive assets, it needs to calculate the gross amount of expenditures to bring these inactive assets into active condition. This process requires time, and therefore we attracted technical expert Eurocim and financial expert Ernst & Young, Jabbarov stressed.
By the end of this week, it is expected to present the first protocol as a result of inspecting the fulfillment of contract obligations, and the second assessment act will be submitted to the government within several weeks.
According to the Deputy Minister, it is planned that by the end of this year the new manager of the electricity networks will begin activity. We offered Barmek to, from October 1, hold several management aspects, particularly collection of the payments for used electric power in Baku and Sumgait electricity networks, and Barmek gave a negative response. Up on the completion of the takeover the electricity networks will begin full activity, the Deputy Minister said.
He considers that unlike the position of the company, the position of the government remains unchanged and if the assets are in lack, it will be confirmed by the international experts. All damages inflicted by Barmek to the government will be defined. We intend to summarize all unpaid finances for the electric power delivered to Barmek and achieve the reimbursement of all finances, Jabbarov stressed.
The electricity networks were transferred to the management of Barmek Holding in 2001-2002.