Friday, 25 February, 2022.
Kib-Tek has debts of over 1 billion Turkish Lira, Minister of Finance Sunat Atun said, Kibris Postasi reported.
Referring to the transfer of responsibility for Kıb-Tek to the Ministry of Finance, Atun said that an overhaul was needed.
Regarding the new single electricity tariff to be introduced on 1 March, he noted that a middle ground tariff should not strain the purchasing power of the people and the institution would cover the production costs.
Atun went on to note that a once profitable institution had arrived at a point where it was making a heavy loss. He said that it would not be right for Kib-Tek to be removed from the purview of the state.
The finance minister recalled the time when he was the Minister of Economy and Energy, noting that they had transferred the institution to Turkish energy company Aksa with an annual profit of 156 million TL, with a consolidated tax of 18 million TL and no debt.
Now they have now taken over the institution with a debt of 1 billion TL, Atun said, “Kıb-Tek is the existence of the TRNC people“.
New Electricity Tariff
Atun said that “There will not be an exorbitant increase in electricity” and that the government had envisaged a system where citizens on low-income would not be victims of electricity costs.
The tariff for the first 250 kilowatt hour will not change, and the average will be taken for the second 250 kilowatt hour, Atun said.
Stating that Kıb-Tek has to pay for the electricity it produces, Atun said, “Those who consume less will pay less, those who consume more will pay more.”
Atun added that the Price Stability Fund resources had been abandoned since 2018.