Members of the Cyprus Parliament, during a session to approve the budget for the Cyprus Ports Authority (CPA), called for accountability concerning a contract that led to a court-ordered compensation of €6.4 million to DP World at the Limassol Port, in a dispute with the Republic of Cyprus.

The discussion centered around the privatization agreement of the Limassol Port. AKEL reiterated its stance, labeling the agreement scandalous, while DISY, under whose governance the agreement was signed, argued for a balanced assessment of its pros and cons.

Ultimately, the CPA's budget was approved.

Stefanos Stefanou, Secretary General of AKEL, described the agreement as criminally imbalanced, particularly for the only commercial port in a semi-occupied country isolated in the Eastern Mediterranean. He jokingly questioned whether AKEL had influenced the Cyprus Chamber of Commerce and Industry (CCCI), which has protested against the agreement's impact on import and export trade due to high tariffs. "Has the CCCI become as 'dogmatic' as AKEL?", he queried.

Stefanou emphasized a 50% increase in tariffs over two years, urging the current Government to investigate this appalling agreement rather than claim powerlessness. "There are scandals in the agreement. The current Government must investigate, and those responsible should face the courts," he stated. He argued that the previous Government served significant interests, a point consistently raised by his party at crucial times.

DISY Member of Parliament Onoufrios Koulla described the agreement as a compromise but refrained from hastily labeling it a scandal without thorough analysis. He argued that the agreement was exceedingly beneficial for state finances and introduced quality criteria.

He questioned if there were no strikes under the previous CPA management and referred to the Larnaca Port and the upgrading of the Vasiliko Port as counterpoints.

DIKO MP Zacharias Koulias emphasized the imperative of safeguarding state property, especially ports and airports, labeling the agreement unacceptable and disgraceful. He argued it failed to attract international trade while increasing tariffs, adversely affecting public interest. He insisted that those who made the agreement be held accountable.

DIPA MP Alekos Tryfonidis spoke about the flawed agreements, questioning who is responsible for a contract that now results in a €6.4 million compensation payment. He proposed that the Cyprus Republic should recover these funds from those who signed this inadequate agreement and called for the current Government to investigate.

Meanwhile, the CPA's budget for 2024 is surplus, forecasting expenses of €34.407.606 and revenues of €35.116.200, mainly from port operations (€14.406.000), leasing of Limassol and Larnaca ports (€15.200.000), European funds (€2.790.200), and investments, bank interests, and various financial revenues (€2.000.000).

The projected expenses are divided into regular expenses (€16.306.046), mainly comprising staff salaries (€9.654.516), office operation expenses (€1.135.500), maintenance costs (€1.576.010), and other operational expenses (€3.860.000), and capital expenses (€17.101.560), primarily for land acquisition and building improvements (€4.498.000), maritime constructions (€6.890.030), machinery purchase and upgrades (€2.077.010), and office and computer equipment (€1.900.010). There are also unforeseen expenses and reserves (€1.000.000).