THE government will revise its privatisation plans if the cash it needed to raise magically appeared, Finance Minister
Speaking before the
If for instance revenues from casino licenses were confirmed, it would allow the government to decide on the extent of privatisation at the state telecoms, Georgiades said.
He added that the main reason for privatisations was to bolster the organisations' efficiency and competitiveness.
No minimum amount has been set so far. Privatisations and public sector reform are among the conditions for a €10bn international bailout
The main organisations slated for full or partial sale are CyTA, the electricity authority EAC, and the ports authority CPA.
Unions oppose the privatisations and last week they went on strike for several days after the cabinet approved a bill that outlines the procedure.
Parliament is currently discussing the bill, which must be approved by the end of this month or early March in order for
Georgiades said the government wants parliament to have a say in the process, even in the final stage of selling the shares.
"The constitution is making it somewhat difficult but through cooperation and the help of the legal service we can ensure this," the minister said.
Unions want the parliament's participation and are also demanding that the workers' pension rights be secured.
The government does not want to take away any rights with this legislation and if there is anything in the bill, it should be removed, the minister said.
Georgiades also said that he was in favour of the workers participating in the share capital of the organisations, either collectively or individually.
Send to Kindle
Most Popular Stories
- Ukraine Crisis Limits Losses in Gold, Silver
- Chiquita, Fyffes to Form Top Banana
- Big Earthquake Rumbles Northern California
- China's Money Rate Drops on Slowdown Concern
- Mt. Gox Files for Bankruptcy in U.S.
- '300' Sequel Conquers Box Office Foes
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- FAA to Appeal Court Decision Allowing Commercial Drone Use
- Can GOP Dodge Immigration Bullet?
- Sbarro Files for Bankruptcy Again