SEMI-state companies (SGOs) are looking into securing a €1.4 billion loan in a bid to avoid being privatised as part of the island’s €10 billion bailout.
The proposal was tabled by the chairman of the telecommunications company CyTA and was discussed yesterday with the heads of the electricity authority (EAC) and the ports authority, among others.
“These organisations belong to the people and should remain with the people,” CyTA chairman Stathis Kittis said. “I believe there are ways to mortgage the people’s property, instead of selling it, and provide the state a way out.
Kittis said his proposal would be discussed by the boards of the various SGOs and then submitted to the government.Read More