The ownership unbundling is the first step towards privatization

 

Statement of Stefanos Stefanou, member of AKEL Political Bureau

AKEL C.C. Press Office, 11th January 2016, Nicosia

According to a confidential document of the Troika which has been revealed, the ownership unbundling of the Cyprus Electricity Authority (EAC), which the government is seeking to promote, represents the first step towards the privatization of this profitable Semi-state organization.

The study prepared by foreign consultants commissioned by the government is also revealing. According to this study, the price of electricity must go up in order to make the sale of the EAC attractive and profitable to large private interests.

In other words, it’s not enough that the government of Anastasiades – DISY party is planning the selling off of EAC at a humiliating price; it is already formulating the conditions for the increase in the rate of profit for private capital to the detriment of taxpayers.

The government and ruling forces during the pre-election campaign pledged that they would fight against privatizations. After the election they are selling off public wealth and assets and shifting the losses on people’s backs.

The government’s credibility has now been completely lost and people do not trust them.