Sunday, February 23th 2020 1PM °C nicosia
02-10-2019 10:56 | Read 379 times

Economy and energy minister rules out increase in energy, fuel cost

THERE will be no rises in the cost of fuel and energy for the rest of the year, Economy and Energy Minister Hasan Taçoy said , as he ruled out privatisation of electricity authority Kıb-Tek.

Economy and energy minister rules out increase in energy, fuel cost

Mr Taçoy said his priority was to make Kıb-Tek “debt-free” by the end of the year – but by using accounting practices rather than price hikes.

Mr Taçoy, speaking during a TV interview, said that he and his department had been “working hard” to ensure that there would be no rises in the costs of fuel and electricity to consumers during the remainder of 2019.

Cost “fluctuations could not exceed five per cent,” Mr Taçoy said, a rate that would “not lead to price hikes”.

“We will inevitably clash with the Finance Ministry . . . but this is not so important,” he said.

“We can meet somewhere in the middle. A different source may go from us [the Economy and Energy Ministry] to them [the Finance Ministry] and we can then strike a balance.”

He said that a “netting off” of Kıb-Tek accounts had been calculated at460 million TL.

Mr Taçoy also said he refused to authorise a proposed six kuruş rise in electricity prices on the “day he came to office” and that he still had no intention of doing so. 

Efforts were being ramped up to recoup unpaid bills, with Mr Taçoy declaring that collections were up from 100 million TL to 150 million TL in the space of four months.

Read the full article in Cyprus Today...In shops or on PressReader.

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