Privatisation plan by end of December

privateUnions threaten to respond with “mass and combative” mobilisation

FINANCE Minister Harris Georgiades said yesterday that a roadmap for the privatisation of semi government enterprises will go ahead as scheduled and will probably be ready by the end of next month, as unions threatened to respond with “mass and combative” mobilisation.

“The finance minister has made it clear to us that the privatisation plan will go ahead and be ready by the end of December,” said Alecos Tryfonides, representative of PASE ATHK, a trade union that represents around 35 per cent of the staff at state telecoms company CyTA.

The plan is necessary for the release of the next tranche of bailout money from the Troika of international lenders and Cyprus must complete the legal framework that will govern the plan by the end of January. Read more