Review Hari Stefanatos
Cyprus’ Cabinet decided on Wednesday to start the necessary procedures for the privatisation of the Cyprus Port Authority (CPA).
Deputy Government Spokesman, Victoras Papadopoulos , addressed the press after a Cabinet meeting, stating that the privatisation process refers to the granting of a long term license or right to use or manage of the Limassol port’s commercial section, with the extend and manner with which this will happen to be decided at a later time with the assistance of experts.
Privatisations are part of terms in the island’s €10 billion bailout agreement. Cyprus must raise €1.4 billion through privatisations between 2016 and 2018, something that the trade unions strongly oppose.