{"id":5980,"date":"2024-03-29T00:01:14","date_gmt":"2024-03-28T22:01:14","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=5980"},"modified":"2024-03-29T00:01:14","modified_gmt":"2024-03-28T22:01:14","slug":"house-passes-budgets-for-public-entities-including-cybc","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=5980","title":{"rendered":"House passes budgets for public entities including CyBC"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/house-passes-budgets-for-public-entities-including-cybc.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The House plenum on Thursday passed the budgets of four more public-law entities, including the Natural Gas Public Company (Defa) and the Cyprus Broadcasting Corporation (CyBC).<\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-1604271136\">\n<div id=\"cypru-1272463759\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-1827699658046-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>The two other public organisations that had their 2024 budgets approved were the RES and Energy Conservation Fund, and the Digital Security Authority.<br \/>\nThe balance sheets got passed in the nick of time, allowing these organisations to resume normal payment procedures. During the months of January and February, organisations whose budgets have yet to get the nod from parliament, can still pay staff under a temporary system known as \u2018twelfths\u2019 \u2013 where only a sum equivalent to not more than one twelfth of the budget appropriations for the previous year may be spent each month for any chapter of the budget.<br \/>\nThe \u2018twelfths\u2019 system expired at the end of February \u2013 meaning that if the budgets of these organisations had not passed this month, they would be barred from making any payments and hundreds of employees would have been left unpaid.<br \/>\nTo date, 41 out of the 43 semi-governmental organisations have had their budgets passed. The two outliers are the Technical University of Cyprus (Tepak) and the Office of the Commissioner\u00a0for the\u00a0Electronic Communications and Postal Regulation.<br \/>\nGiven that Tepak\u2019s budget will not get passed by the end of this month either \u2013 since the next House plenum is on March 4 \u2013 that organisation will likely face a freeze on payments.<br \/>\nRegarding Defa, its balance sheet for 2024 provides for \u20ac38.4 million in expenditures and \u20ac32.8 million in anticipated revenues.<br \/>\nThe House green-lit the Defa budget, but \u2018crossed\u2019 certain expenditures relating to legal costs and payments made to experts and consultants. For these amounts to be released, Defa must come back to parliament and justify them.<br \/>\nMeanwhile parliament also approved Defa\u2019s request to hire 36 additional staff.<br \/>\nBy law, Defa is the only entity in Cyprus allowed to import and distribute natural gas.<br \/>\nIts revenues for this year derive from a \u20ac12 million state grant, plus \u20ac20.5 million from the European Union\u2019s \u2018Connecting Europe Facility\u2019 for the project concerning the liquefied natural gas (LNG) terminal under construction at Vasiliko.<br \/>\nThe LNG facility is said to be 80 per cent complete.<br \/>\nRegarding state broadcaster CyBC, its budget comes to \u20ac39.3 million. Payroll accounts for \u20ac26.7 million.<br \/>\nThe passage of the budget should defuse tensions at CyBC, where unions had threatened strikes unless the March salaries were paid out.<br \/>\nHowever, the situation with payment of salaries is complicated by the fact that all CyBC bank accounts have been frozen, on the strength of a court order.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House plenum passed the budgets of four public-law entities, including the Natural Gas Public Company (Defa) and the Cyprus Broadcasting Corporation (CyBC). Defa&#8217;s budget for 2024 includes \u20ac38.4 million in expenditures and \u20ac32.8 million in anticipated revenues. CyBC&#8217;s budget is \u20ac39.3 million, with \u20ac26.7 million allocated for payroll. The budgets needed to be approved in order for the organizations to resume normal payment procedures.<\/p>\n","protected":false},"author":3,"featured_media":5981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[1902,1766,4029,1625,2511,932,909,3,3772,4032,358,201,2404,3935,2515,250,3330,3595,758,1569,4031,3331,1799,4030,2871,811,3771,827,3269,468,901,832],"class_list":["post-5980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-bank","tag-budget","tag-budgets","tag-construction","tag-costs","tag-court","tag-cybc","tag-cyprus","tag-cyprus-broadcasting-corporation","tag-cyprus-broadcasting-corporation-cybc","tag-energy","tag-europe","tag-european-union","tag-expenditures","tag-february","tag-google","tag-google-news","tag-lng","tag-natural-gas","tag-natural-gas-public-company","tag-natural-gas-public-company-defa","tag-news","tag-parliament","tag-public-law-entities","tag-request","tag-res","tag-salaries","tag-security","tag-strikes","tag-tensions","tag-tepak","tag-university-of-cyprus"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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