The parliamentary opposition will introduce a bill to scrap the state’s privatization unit

Akel, the parliamentary opposition party, will introduce a bill to scrap the state’s privatization unit (PU). “Akel spokesman Stefanos Stefanou explained why they were drafting legislation to scrap the PU: The unit no longer has a purpose. It is costly, its Commissioner is paid some €170,000 a year, so far it has conducted studies costing about €3.5 million, and we feel that this is a waste of public funds.” Akel has been at odds with the government over the PU ever since it was established. The party is against the privatizations drive announced by the administration, after a March 2013 bailout deal with international creditors requiring Cyprus to denationalize certain state assets.”