KIB-TEK is owed TL 414 million

The focus of the financial problems of KIB-TEK is rightly, on the mountain of uncollected debts.

It is mainly the state institutions that are in debt to KIB-TEK and this has severely damaged the company.

EL-SEN, the electricity workers’ union has prepared a report for the Parliamentary speaker, Sibel Siber, outlining the problem.

The report shows that TL 225 million is owed by state institutions. A further TL 120 million is owed by the various municipalities. BRT on its own owes TL 20 million.

The union feels that the critical financial situation is a result of poor management and political pressure to push KIB-TEK towards privatisation.

Head of EL-SEN, Caglayan Cesurer has asked Mrs Siber to place an appropriation of TL 90 million for 2014 into the budget. This would come out of the budgets of municipalities and be paid to KIB-TEK direct in equal monthly instalments. These payments would at least, cover the TL 7 million that KIB-TEK pays to banks in loan repayments and interest. It would also mean that overall electricity costs would decrease and allow for a price reduction in electricity charges.

Other Stories