Profitable semi-governmental organizations surrendered to private investors
Statement of Stavros Evagorou, Deputy Parliamentary Spokesperson of AKEL-Left-New Forces
AKEL C.C. Press Office, 23rd July 2015, Nicosia
Although the Government is proceeding at full-speed to the selling off of the Cyprus Telecommunications Authority (CYTA), at the same time the semi-governmental organization announced profits € 42, 6 million, which could have risen to € 70 million had it not assumed the cost of the voluntary retirement of staff.
As in the case of the Semi-governmental organization Cyprus Port Authority, the burden was shifted on the state and therefore the taxpayer to “cleanse” the organizations being privatized from any additional economic costs so that they are surrendered to private capital more profitable and more “attractive”.
It is very well known that in recent years the semi-governmental organizations have contributed more than € 1 billion to the Consolidated Fund of the Republic of Cyprus. These profits and maybe even much more will end up in the pockets of private investors. Unfortunately this criminal action of the Government is being encouraged through the parliamentary support provided by the Democratic Party DIKO and the Socialist Party EDEK.
As AKEL, we are against the selling off of public assets and wealth and will continue to wage battle to halt this destructive path.
