Ideological concepts that cost – Article by Eleni Mavrou, AKEL Political Bureau member

 

Sunday 30 January 2022, ‘Haravgi’ newspaper

Co-operative Bank, Cyprus Airways, Grain Commission, Limassol Port…

In the nine years of DISY’s rule, the selling off of public wealth and property took on the character of looting. Serving the economic interests of a privileged few, frequently the government ruling forces themselves, is depriving the Cypriot state and the Cypriot people on a daily basis of resources that could make the country’s developmental prospects and the lives of its people better.

Now that securing a loan for small businessmen, young couples and farmers has become almost impossible and bank charges are constantly increasing, with the government’s blessing, many people realise the importance of the role played by the Co-operative Bank as the “opposing pole of private banks’. But DISY is satisfied, since the banking system has been “cleaned up”, even if it meant at the same time that the Cypriot people were burdened with millions of euros in costs so that the profits of a private bank would be guaranteed.

Now that Cyprus’ external connectivity has become so difficult that even the government-appointed Council for Economic and Competitiveness felt the need in its recent report to point out the impact on the Cyprus economy and the effort to attract investment, many people understand the importance of having a state-owned airline on an island at the edge of Europe.

Now that 5-6 traders control the grain trade and the non-existent strategic grain reserves/stocks have driven farmers to desperation, many people have realised how valuable the regulatory role that the Cyprus Grains Commission was playing.

Now that the increases in tariffs being imposed by the private companies managing the country’s largest port have reached 96% and even supporters of the privatisation of the Port have become indignant, many people realise how false the celebrations of the DISY government were on that supposed “historic day for the country’s port activities and economy”.

The latter has been the subject of much discussion in recent days. But I have not heard any member of the government or DISY take responsibility because:

• The privatisation of the port, despite the fact that the Cypriot state had invested more than €120 million to upgrade its infrastructure and was recording profits of tens of millions of euros per year, reversed its strategy of turning it into a transit commercial centre.
• As if above losses were not enough, the DISY government also made sure to ensure the profits of the companies as well (as they did with the Cooperative Bank), by imposing, from the outset of privatization, a 40% increase in taxes and tariffs and a cap at the port of Larnaca – in case it would operate competitively to private interests.

It was in this climate that just a few days ago the announcement was made that the semi-governmental Cyprus Telecommunications Authority (CYTA) – which the government ruling forces have been trying desperately to privatise since 2013 – continues to record profits. These profits did not go into the pockets of some private interests, but were channeled into public works/projects and implementation of social policies – more than €1 billion in recent years. And even though DISY President Averof Neophytou, when he was Minister of Transport, once stated that the value, if CYTA was sold, would not reach EUR 127 million.

The ideological obsessions of DISY and its government have already cost us a lot. We shouldn’t allow them to destroy what is left.