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A group of entrepreneurs engaged in soft drink production are protesting against the planned amendments in Armenia’s Tax Code outside the government HQ on Monday.

According to the proposed amendments, excise taxes will be imposed on soft drinks in Armenia, due to which their prices are expected to grow by some 30-40 percent.

Stressing the new law will hit ‘the poor in the pocket’, the protesters claim the price hike will eventually lead to a lower demand of their products and shutdown of the companies. One of them claimed the new measure ‘is nothing other than an attempt to monopolize the market.’

Chairman of the Informed and Protected Consumer NGO Babken Pipoyan, who also jointed the protesters, claimed the new tax system will affect the quality of soft drinks.

Pawnbrokers and currency exchange employees were also among the protesters, demanding the government to revise planned increases in tax duties, according to which pawnshop duty will grow to 6,000,000 from the current 100,000 drams, and currency exchange duties – to 3,000,000 from 50,000.

The protesting crowed demanded a meeting with Finance Minister Atom Janjughazyan and Deputy Prime Minister Mher Grigoryan.

Deputy National Assembly Speaker Alen Simonyan stepped in to negotiate with the protesters, promising to discuss their complaints with his colleagues. He also hailed the people’s move to voice their complaints.