The busi­ness of gov­ern­ment is not busi­ness

Financial Mirror (Cyprus) - - FRONT PAGE -

fares. Re­cent tes­ti­mony be­fore a par­lia­men­tary com­mit­tee re­vealed cer­tain prac­tices that help to ex­plain the com­pany’s lack of com­pet­i­tive­ness. Re­ports of the tes­ti­mony by CY’s pre­vi­ous legal ad­vi­sor and for­mer ac­coun­tants re­fer to “mis­man­age­ment”, “in­ep­ti­tude” , “bloated bonuses” and “too close ties with po­lit­i­cal par­ties”, as well as the use of a com­pany plane to fly the car of a CY manager’s son to a more con­ve­nient lo­ca­tion. even rail­roads. Again, there were pre­dic­tions of the chaos that would fol­low if th­ese in­dus­tries fell into pri­vate hands. In­stead, ma­jor gains in ef­fi­ciency and pro­duc­tiv­ity were recorded. The same com­pa­nies that re­quired state sub­si­dies to sur­vive now con­trib­ute to gov­ern­ment tax rev­enues. Of course, there were also prob­lems, but to­day, not even the po­lit­i­cal par­ties that op­posed pri­vati­sa­tion are will­ing to sug­gest a re­turn to na­tion­al­i­sa­tion.

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