07 December 2013 12:18

 Modernisation and denationalisation of semi-government organisations aims not only to safeguard the interests of employees but also to secure financial benefits for the economy, Finance Minister Haris Georgiades said yesterday.
Commenting on the Cabinet’s decision to approve
the roadmap on Thursday, Georgiades said the road to privatisations would be long and hard.
“It will be a lengthy procedure which will last just over two years and there is a strict transparency and procedural framework that the Cypriot government will safeguard,” he noted.
Upon returning from an official visit to Washington DC yesterday morning, Georgiades voiced satisfaction with Cabinet’s decision.
“We now have a roadmap that will provide us with the opportunity to deliver on the aim and obligation of privatisations in a way that will allow us the time and flexibility to maximise benefits”.
The minister stressed that Cyprus is not the first country to go ahead with privatisation of semi-government organisations.
“We will look for models that have worked. There will be careful planning to ensure success. There are both benefits and dangers,” he continued.
Following objections, work stoppages and threats of further strikes from trade unions, Georgiades said tdiscussions with unions will continue.
“Workers may have a determining role in the process and future structure and prospect of the organisations. They will participate in the capital and co-own their organisations.”


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