N Cyprus on the eve of large privatizations

Turkish Cyprus’ Economy, Finance, Budget and Planning Commission has approved a draft law to privatize certain public assets.

The draft is now headed to a vote at the parliament. Among the items on the privatization agenda is Northern Cyprus’ Ercan Airport. 

“We are hoping that Turkish businessmen will join the auction for the Ercan Airport, because our businessmen are currently taking part in the auction on their own,” said Northern Cypriot Prime Minister Ä°rsen Küçük, speaking at a dinner last night in Antalya, southern Turkey.

He explained that they wanted to open the way for privatization in Northern Cyprus, having already privatized Cyprus Turkish Petroleum and were now looking to privatize the Ercan Airport. 

Ercan Airport currently has a 2.5 million passenger capacity, which Küçük says they are hoping to increase to 5 million by holding an auction to construct a more modern airport, with the capacity to support large planes.