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Privatisation of Kib-Tek blamed for Delay in Funding

Privatisation of Kib-Tek blamed for Delay in Funding

April 06
12:00 2019

Delays to signing the economic protocol with Turkey have been ascribed to varying reasons such as local elections in Turkey and legal reasons. However, another reason has been suggested regarding delays to financial aid coming from Turkey to the TRNC. Turkish Cypriot daily ‘Afrika’ writes that the stumbling block is Kib-Tec.

North Cyprus News - Kib-Tek Power Station
Kib-Tek Power Plant

Reportedly, the protocol says that state energy supplier in North Cyprus – Kib-Tek is to be divided into three parts for production, distribution and collection of revenues and privatised.

Additionally, General Secretary of the Primary School Teachers’ union Sener Elcil issued a written statement yesterday claiming that the main reason why the economic protocol was not signed yet was the fact that it included the breaking up of Kib-Tek and selling off its assets. He said that Turkey’s officials wanted to get hold of all the means of production in North Cyprus and that this was the reason the cost of electricity was so high.

Afrika