articles | 13 February 2014

Cabinet approves privatisation bill amid protests

The cabinet approves a bill on privatisations for SGOs with the ministers belonging to coalition partners DIKO abstaining over a disagreement on the provisions.

Democratic party DIKO wants parliament to have a say in the sale of state companies and not just the cabinet. The government says the bill simply maps the procedure. Main opposition AKEL and socialists EDEK have already said they will not approve the bill. Its approval by parliament before the end of the month is a condition for Cyprus to receive the next tranche — €236 million — of an international bailout. Discussion at the presidential palace took place as workers of state telecoms company CyTA protested outside.

Source: Cyprus Mail

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