Nearly 2 Billion Drams Misappropriated at Sheniq Water Users Company: RA NKR

The Republic of Armenia's State Control Service has reported that significant violations and deficiencies have been identified within the Sheniq Water Users Company.

The State Control Service conducted an investigation into the Sheniq Water Users Company to assess the credibility of information that served as a basis for granting subsidies from the state budget of Armenia. During the investigation, numerous violations and deficiencies were uncovered.

In total, the identified violations and deficiencies amounted to approximately 1,855,337.7 thousand drams (over 1.8 billion drams). The violations primarily related to unsubstantiated accounts receivable, inaccurate reports presented, volumes of water loss, collection of irrigation water fees, unrealistic data regarding the productivity of deep wells and pumping stations, shortages of compressed gas in the company, under-calculated membership fees, removal of fixed assets without initial accounting documents, unreliable renovation work on pumps, improper calculation of construction costs and additional expenses, over-calculation of salaries, and massively inflated costs for gasoline, diesel fuel, and compressed natural gas.

The report compiled as a result of the investigation has been sent to the Prosecutor's Office of the Republic of Armenia.