Cypriot President Nikos Christodoulides affirmed on Tuesday evening the government’s dedication to tackle the pressing issue of energy costs, in an interview marking one year in office.
“We have the responsibility to resolve the issue of energy cost, and we will resolve it,” he stated. Furthermore, he outlined plans for a comprehensive tax reform, highlighting that the last time implementing such a reform was in 2001.
Addressing concerns over escalating energy expenses, President Christodoulides said that the issue did not arise during the last year. However, he assured the public that the government is committed to finding sustainable solutions. He pointed out that the “Solar panel for all” initiative has garnered significant interest, with over 4,000 applications received since its launch. “We will evaluate the program and relaunch it,” he assured.
The President also drew attention to the challenges surrounding the liquefied natural gas terminal in Vasiliko, noting its critical role in stabilising energy
prices.
Expanding on the government’s strategy, President Christodoulides highlighted specific initiatives tailored for large enterprises, including advancements in electricity metering aggregation and natural gas planning. Additionally, he hinted at forthcoming plans for the utilisation of the ‘Cronos’ gas deposit by ENI energy company, alongside efforts to enhance the country’s electrical interconnectivity.
While acknowledging that tangible results may not materialise overnight, the President affirmed the government’s commitment to implementing targeted interventions aimed at alleviating the burden of energy cost.
President Christodoulides also highlighted the government’s commitment to comprehensive tax reform. He said that one of the initial actions of his administration was to initiate efforts towards a tax reform, noting that the last significant tax reform occurred in 2001.
“Our government initiated this effort, and gradually we are announcing changes related to the tax reform of our country. We be
lieve it is right to undertake a comprehensive tax reform after so many years, as there are clearly new circumstances today” President Christodoulides said.
The President emphasised the importance of collaboration between the government and the private sector for the issue.
Commitment to establish Single Supervisory Authority
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In response to questions regarding the delay in establishing the Single Supervisory Authority, mandated by the Cabinet to regulate companies providing administrative services, President Christodoulides emphasised his proactive stance. “I am not procrastinating in any way,” he asserted.
“We have already drafted specific legislation, and I am prepared to confront any challenges to uphold the reputation of our country,” he affirmed.
President Christodoulides also addressed recent announcements from the United States imposing sanctions on five entities and two individuals, expressing concern over the implications for Cyp
rus. The President said that such actions cast a shadow over the nation’s reputation.
When asked about the reactions to the Single Supervisory Authority, President Christodoulides stressed that those who oppose it, should consider that in the long-term is also in their own interest. He emphasized the Republic of Cyprus’ commitment to being a state of law and declared a zero-tolerance policy towards corruption.
Source: Cyprus News Agency