YEREVAN, JANUARY 18, ARMENPRESS. The ministry of finance is alienating the “State Treasury of Precious Metals and Gemstones” for their effective management and sale with their maximum price.

Deputy minister of finance Armen Hayrapetyan told reporters that the 1,5 billion dram worth of gemstones and precious metals are being put for sale  to avoid their less liquidity with time.

“As you know the treasury includes two groups of products. The first group are products which are historic-cultural values, which aren’t estimated, aren’t sold and are only displayed in museums. The products of the second group have value and can be put up for sale. Their total value is 1,9 billion drams, 400 million of which are bank bullions, with which it is possible to make financial transactions. The other part, which is estimated at 1,5 billion drams, are precious items – gold jewelry, necklaces, pearls and others, which are being sold”, he said.

The proceeds will be used to equip the treasury with items having more liquidity.

The official said this issue is being dealt with since mid-2016, and the pearls were attempted to be sold last year also, but no buyer placed a bid.