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The Nicosia government approved plans for the privatisation of several semi-public companies on June 20, in line with the terms of the memorandum negotiated with the EU-ECB-IMF troika of international creditors.

The programme, which will privatise an estimated €1.4bn of assets, will include the CYTA telecommunications company, national electricity provider AHK, and the Cyprus port authority, reports O Phileftheros.

The daily explains that the government plans to employ private consultants for three months to establish the details of the programme. The cost of the consultants’ services will be between €100,000 and €150,000.