Head of State Control Service on the Nationalization of HEC

The head of the State Control Service, Romanos Petrosyan, stated years ago that the process of nationalization of HEC should involve either state ownership or at least a state stake.

"If the procedures stipulated by law provide for compensation to the businessman, then there will be compensation. Everything will be according to the law. I guarantee that there will be no deviation from the letter of the law," he said.

He did not rule out that after the nationalization of HEC, it might be handed over to a private entity. "I do not rule anything out, nothing is decided. The state can manage itself, maintain a state stake, or hand it over to a private entity," he noted.