The is a wage problem in the Sumgait Technology Park (STP) and JSC "Euro-Asian Construction Corporation EVRASCON», which employs several thousand people. Both companies delay salaries for months, according to local media. The STP began repayment of salaries for June; mass layoffs have also begun. One of the dismissed employees Nuraddin Samandarov said Turan, that he and 24 colleagues from the Department of Energy, were "asked" to resign. There are layoffs in other factories STP too.
The problem with the payment of wages is observed in EVRASCON. Employees of corporations, attracted to the construction of Alat-Astara, are not paid salaries. Turan appealed in this regard to the Supervisory Board of the company. Commenting on the situation, a member of the National Assembly Namik Kerimli said that the volume of work carried out by the corporation reduced and customers delay payments, and therefore there are problems with payment of wages. Earlier this year, the credit debts of EVRASCON amounted to 232.7 million manat, of which 67.5 million were attracted from banks. -08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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