10/12/2015 13:02
The privatization of Cyta is uncertain following recent rapid developments, particularly after the decision to stop the privatization of EAC.
DIKO through its president Nicolas Papadopoulos, clarified at a closed session of Cyta workers of all political backgrounds yesterday evening, that his party will vote against bills tabled by the government regarding the privatization of the authority. The meeting was held at the presence of the leaders of the five trade unions that are organized at Cyta.
Earlier in the evening a letter was given to President Anastasiades which was signed by all unions and was received by the secretary of the cabinet.
In the letter, Cyta employees' representatives invite the President to appoint an urgent meeting to discuss the matter of Cyta privatization after the latest developments on prerequisites laid down in the eighth evaluation of the memorandum.
According to the general secretary of EPOET-OHO-SEK Elias Dimitriou and the General Secretary of Paseo -ATHK Alekos Tryfonides, in view of the expected meeting with the President of the Republic, finance minister Harris Georgiades will be asked to postpone the submission of bills relating to Cyta to the planned meeting of the cabinet on December 14, for approval.
The decision for sending a letter to the president and for further measures against the privatization of the organization was taken at yesterday's long meeting of all unions.
A new round of contacts between unions and all parliamentary parties was also decided.
During the meeting, the proposal about Cyta's modernization that was prepared by unions was ratified and it will be given to the President of the Republic in the forthcoming meeting.
"This is a proposal for modernizing the organizational process of Cyta functioning and administration. It provides that through desired changes the public nature of the organization, the status and rights of workers, its development character for the economy and its social character will be ensured" Mr. Tryfonides told Stockwatch.
The proposal also provides for an upgrade of the organizational and functional structure of the authority, consolidation of its economic efficiency and upgrade of provided service efficiency.
Recent developments regarding the prerequisites for disbursement of the next tranche from international lenders who ask for a new Cyta private company, enactment of bills on labor issues and unbundling of EAC, has caused a headache to the Ministry of Finance.
Information leaking is that government concerns have intensified in light of developments in EAC and Cyta, as the final text of the updated memorandum after the eighth evaluation of the adjustment program has not yet been given to Cypriot authorities.
In addition, any reversal of the situation will result in the tranche of € 350 mn not being disbursed, while a problem with the recapitalization of the Cooperative may also incur as the finance minister has said that part of the installement - €200 mn - by international lenders will be allocated by the ESM to the Cooperative Central Bank for its recapitalization.
DIKO through its president Nicolas Papadopoulos, clarified at a closed session of Cyta workers of all political backgrounds yesterday evening, that his party will vote against bills tabled by the government regarding the privatization of the authority. The meeting was held at the presence of the leaders of the five trade unions that are organized at Cyta.
Earlier in the evening a letter was given to President Anastasiades which was signed by all unions and was received by the secretary of the cabinet.
In the letter, Cyta employees' representatives invite the President to appoint an urgent meeting to discuss the matter of Cyta privatization after the latest developments on prerequisites laid down in the eighth evaluation of the memorandum.
According to the general secretary of EPOET-OHO-SEK Elias Dimitriou and the General Secretary of Paseo -ATHK Alekos Tryfonides, in view of the expected meeting with the President of the Republic, finance minister Harris Georgiades will be asked to postpone the submission of bills relating to Cyta to the planned meeting of the cabinet on December 14, for approval.
The decision for sending a letter to the president and for further measures against the privatization of the organization was taken at yesterday's long meeting of all unions.
A new round of contacts between unions and all parliamentary parties was also decided.
During the meeting, the proposal about Cyta's modernization that was prepared by unions was ratified and it will be given to the President of the Republic in the forthcoming meeting.
"This is a proposal for modernizing the organizational process of Cyta functioning and administration. It provides that through desired changes the public nature of the organization, the status and rights of workers, its development character for the economy and its social character will be ensured" Mr. Tryfonides told Stockwatch.
The proposal also provides for an upgrade of the organizational and functional structure of the authority, consolidation of its economic efficiency and upgrade of provided service efficiency.
Recent developments regarding the prerequisites for disbursement of the next tranche from international lenders who ask for a new Cyta private company, enactment of bills on labor issues and unbundling of EAC, has caused a headache to the Ministry of Finance.
Information leaking is that government concerns have intensified in light of developments in EAC and Cyta, as the final text of the updated memorandum after the eighth evaluation of the adjustment program has not yet been given to Cypriot authorities.
In addition, any reversal of the situation will result in the tranche of € 350 mn not being disbursed, while a problem with the recapitalization of the Cooperative may also incur as the finance minister has said that part of the installement - €200 mn - by international lenders will be allocated by the ESM to the Cooperative Central Bank for its recapitalization.
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