Kıb-Tek, the state-run electricity authority will undergo restructuring in an attempt by the Economy and Energy Ministry to strengthen its “accountability, transparency and efficiency” for “the public good”. However, privatisation has been ruled out.
Economy and Energy Minister Hasan Taçoy, announced last week “a new vision” for the debt-ridden authority, at a press conference. He read out a joint statement saying three “relevant bodies” – the ministry, Kıb-Tek, and electricity workers’ union, El-Sen, had come to an agreement over how to address problems with the authority’s “unsustainable” existing structure.
Kıb-Tek currently, is running at a loss of 30 to 35 million TL.
Energy Minister Taçoy said that Kıb-Tek had been “rendered unsustainable administratively, financially and technically”.
“It is our responsibility to run the authority for the public benefit and we won’t make any excuses,”, he said.
“The main target needs to be reorganisation while we are working on finding short and long-term solutions to make it an authority generating sustainable power.”
Cyprus Today
