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Cyprus

Bill to establish CyTA Ltd unlikely in next few months

It is “highly unlikely” a bill set to establish CyTA Ltd as part of a broader move to privatise the state telecoms authority will be passed before the end of Cyprus’ international adjustment programme in March, the House finance committee heard on Tuesday.

According to deputy chairman Angelos Votis, “there are several bills before us which the finance ministry believes the committee must quickly address and in the meantime, we have to say there are limited sessions the committee must convene in.”

As of now, they have budgets for semi state organisations and have started convening on Mondays and Tuesdays in the hopes of assessing all government bills.

The government bill allows for the creation of a new state-owned entity to take over Cyta’s operations and staff. The new entity would operate under private law, meaning the government will have the option of surrendering a stake to private investors.

Finance Minister Harris Georgiades previously sent a letter to House President Yiannakis Omirou requesting 21 reform bills including those relating to the public service, solvency, CyTA and property tax are prioritised.

Greens MP George Perdikis said the time frame was “suffocating” and he had no objections to “convening 24 hours a day”.



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