After the February Revolution of 1917, he became the adviser of H. Zavryan, the General of Western Armenia (created by the interim Government) and the first Deputy Head of the Commissariat.

In November, 1917 he assumed the position of the Minister of Finance in Transcaucasian Commissariat.

On November 4 of the same year, Karchikyan was appointed the Minister of Labor and Public Assistance in the newly formed Coalition Government, meantime sharing the responsibilities of the Minister of Finance.

He was killed in his cabinet by a military officer of the “Dashnaktsutyun” party, Egor Ter-Minasyan on November 11, 1918.

[2][3] In a letter to his wife, the first prime minister of Armenia, Hovhannes Kajaznuni, described Karchikian as the "strongest member" in the cabinet, and "perhaps the only statesman among us".