Insider Economy Deputy Ministry of Development and POSE put on ice

Deputy Ministry of Development and POSE put on ice

The government has frozen the proposed bill on Public Organisations and State Enterprises pending in Parliament since 2015. The bill, which was an obligation of the austerity memorandum, provided regulations for the legal framework of action by public organisations and state-owned enterprises.

It also defined the process and criteria for the establishment of new public organisations and state-owned enterprises. Reaction at the time by trade unions of semi-governmental organisations as well as by opposition parties had left the bill pending before parliament for four years.

Finance Minister Harris Georgiades has sent a letter to chairman of the House Finance Committee Angelos Votsis of centre Diko informing that he would withdraw the bill because, as he noted, the prospect of approval is not there. The Minister also noted that the government will reconsider the possibility of re-tabling the bill taking into account the positions expressed by parliamentary parties.

Another bill that was withdrawn is that on the Interest Rate Liberalisation and Related Matters which would allow the Cooperative Central Bank to set new key interest rates, since the purpose for which it was drafted has been eliminated.In addition, the Ministry has asked the parliamentary committee to also keep the draft law on the establishment of a Deputy Ministry of Development pending.

Georgiades noted that “the bill is still very important, but the Government’s intention is to review it in the light of the discussions that have been held in the Committee and the fact that, so far, it has not been promoted.”

In another development, the Ministry of Agriculture is withdrawing the bill under which the Grain Commission would come under the Ministry of Agriculture, as well as the bill on the Cyprus Dairy Industry Organisation which has been abolished. The bill concerned the possibility of issuing regulations for employee pensions.

 

Read more:

https://in-cyprus.com/finance-minister-has-huge-responsibility-for-collapse-of-co-op-bank-investigation-finds/

 

 

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