KIB-TEK 400 Million TL in Debt

North Cyprus News - Turkish LiraKib-Tek electricity authority is around 400 million Turkish Lira in debt, Minister of Economy and Energy, Hasan Tacoy has said

The minister said that Kib-Tek owed 180 million TL to the banks and 215 million TL to AKSA, a private power supply company. He added that Kib-Tek was owed 40 million TL by the state and 60 million TL by the army.

Meanwhile, referring to the electricity workers’ union (El-Sen) demand to purchase four new power plans by taking out a new load of 28 million dollars was unnecessary and that the existing power plants could cover their power supply needs.

Asked why the 250 million TL in aid had not been transferred from Turkey to the TRNC, Tacoy noted that there was a disagreement between the two sides as to how this money should be spent. He added that differences existed in Turkey’s budget law and TRNC budget laws.

Without taking into consideration these differences, a demand was submitted to repay some past investments from this money to be given by Turkey”, he noted, adding that this was technically not possible for the Turkish Cypriots. He said that the TRNC finance minister was going to Ankara to overcome these problems.


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