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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF ARMENIA

of September 24, 2021 No. 1577

About approval of the program of actions of the "State Treasury of Precious Metals and Gemstones" Agency of the Ministry of Finance of the Republic of Armenia for alienation of the state reserves of precious metals and gemstones for 2022-2024

Accepted the Government of the Republic of Armenia on September 24, 2021

Based on Item 25 of the Procedure approved by the Order of the Government of the Republic of Armenia of April 5, 2007 the No. 484-N Government of the Republic of Armenia decides:

1. Approve the program of actions of the "State Treasury of Precious Metals and Gemstones" Agency of the Ministry of Finance of the Republic of Armenia for alienation of the state reserves of precious metals and gemstones for 2022-2024 according to Appendix.

2. This Resolution becomes effective next day after its official publication.

Prime Minister of the Republic of Armenia

N. Pashinyan

Appendix

to the Order of the Government of the Republic of Armenia of September 24, 2021 No. 1577

The program of actions of the "State Treasury of Precious Metals and Gemstones" Agency of the Ministry of Finance of the Republic of Armenia for alienation of the state reserves of precious metals and gemstones for 2022-2024

I. Preamble

1. The state reserve of precious metals and gemstones (further – the state reserve) is intended for satisfaction of urgent needs of the state and national economy, and in case of emergency situations provides self-sufficiency of the state and national economy with precious metals and gemstones.

2. In the last to year the state reserves were replenished only with precious metals, gemstones and products from them confiscated in the procedure established by the law, acknowledged ownerless for benefit of the state, passed to the state.

3. About two decades alienation of gemstones, products from precious metals and gemstones from the state reserves of the "State Treasury of Precious Metals and Gemstones" Agency of the Ministry of Finance of RA (further – the State treasury) is not performed therefore the specified values lose the relevance – trade dress and value.

4. The state treasury accepted approach that in the state reserves it is necessary to collect only ingots of high liquidity according to state standard and products of highly artistic value from precious metals and gemstones.

5. The solution of task is caused by need of full and effective management of the state reserves, implementation of the coordinated supervision of processes.

II. The general description of the state reserve of precious metals and gemstones of the Republic of Armenia and the national reserve which is its component

6. According to the subitem 3 of Item 5 of Chapter 3 of Appendix to the Order of the Minister of Finance of the Republic of Armenia of October 2, 2018 No. 487-L, as the State treasury enters leave of precious metals, gemstones and products from them from the state reserves according to the procedure and the size established by the Government of the Republic of Armenia, collection of payments for the released values and their transfer in revenues of the government budget of the Republic of Armenia.

7. According to the requirement of part 3 of article 17 of the Law of the Republic of Armenia "About precious metals", the State treasury is authorized to exercise accounting and control of precious metals, gemstones, and also products from precious metals and gemstones being state-owned property (except for the values which are on balance of the Central bank of the Republic of Armenia).

8. By results of implementation of actions for inventory count of the values which are part of the state reserve and to provision to the State treasury of information the State treasury specified data on availability, movement, high-quality condition of the values which are registered on balance of state bodies, public institutions, state non-profit organizations and legal entities with 100 percent state participation (except for the high and high schools operating in the territory of the Republic of Armenia. The data received from 96 organizations were specified and introduced in the relevant electronic base.

9. The values which are on balance of the centers of culture, the museums are divided and classified as values of the state reserve and value of national reserve (are inviolable and are not subject to alienation). Aggregated data of values of national reserve: gold – kg 65,9, silver – kg 1453,2, platinum – 477,5 of gram and palladium – gram 0,02, alloy of precious metals – kg 196,6 (for 01.01.2021).

10. Aggregated data of the values of the state reserve which are on balance of state bodies, public institutions, state non-profit organizations and legal entities with 100 percent state participation: gold – kg 1,3, silver – kg 21,1, platinum – kg 64,4, palladium – kg 0,2, iridium – kg 10,9, rhodium – kg 0,3, osmium – 2.23 kg, and also in the equipment: kg gold 0 4,8, silver – kg 462,9, platinum – kg 3,5, palladium – kg 9,1, rhodium – kg 0,3, iridium – kg 0,1 (for 01.01.2021).

11. Aggregated data of the values of the state reserve which are in the state treasury: gold products - kg 80,0, metal gold 0 14.6 of kg silver products – kg 74,1, metal silver – 31.3 kg, jewelry with combination of silver and non-noble metals – 4, kg, platinum – kg 3,0, palladium – kg 1,4, osmium oxide – kg 4,32, gemstones (diamonds, diamond raw materials) – carat 3575,8, gemstones (diamond stones and raw materials) – 762 carats, gemstones (emeralds) – the 256th carat, the grown-up (cultivated) pearls – kg 102,8, artificial stones – 4795 pieces, are low artificial stones – kg 1,2, semiprecious stones – the 417th carat. The total cost of the values of the state reserve which are in the state treasury for 01.01.2021 constitutes about two billion hundred fifty six million dram (see the table No. 3).

III. Program tasks

12. After 1996 realization of gemstones, and also products from precious metals and gemstones from the state reserve (through the public biddings) was not performed therefore in the State treasury enough gemstones, and also products from precious metals and gemstones collected.

13. Except the ingots which are in the State treasury according to state standard, products of highly artistic value from precious metals and gemstones, storage of other values is inefficient and inexpedient as products from precious metals and gemstones over the years lose the relevance, losing trade dress and value.

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