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Ministry of Transport and Communications of Armenia is expected to sign a contract with Haypost Trust Management to extend the trust management term for another 5 years, Minister of Transport and Communications Manuk Vardanyan told ArmInfo.
He said that on May 24 the Government adopted a decision to make a new contract with Haypost Trust Management. The previous contract was extended for 6 months and is expiring on May 31 2012. Negotiations are underway with the managing company and will over within the month. "We have been negotiating for a long period of time, which means that there are difficulties. All our requirements to improve quality of postal services will be included in a new contract," Vardanyan said.
In compliance with the agreement signed on November 30, 2006 with the Government of Armenia, the Dutch HayPost Trust Management B.V. is currently responsible for the operational management of the Armenian national postal operator with the objective to strengthen HayPost as a viable and credible postal and financial service entity, meeting all international postal and bank standards. In line with the company's financial report, net profits of Haypost in 2010 totaled 619,055 million drams versus 837,434 million drams in 2009. The authorized capital of the company totaled 520,993 mln drams in late 2010. (Central Bank's exchange rate for May 24 is 401.49AMD/US$1).