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Auditor-general: Companies owe CyTA millions

June 14, 2018 at 1:56pm
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The Cyprus Telecommunications Authority (CyTA) has millions of euro in outstanding bills to collect from a number of companies, auditor general Odysseas Michaelides said on Thursday in his annual report on the semi-government organisation.

He said that the board was looking for ways to collect, often reaching compromise arrangements which the auditor general believes should be better handled. According to his report, sums are owed by telecommunication organisations of other countries, but also by local companies.

According to the report, at the end of 2017, CyTA had €102.m to collect, of which it has made provision for €22.6m.  The biggest debtor is SyrianTelecom which owes €6m followed by the Telecommunications Ministry of Lebanon which owes  €2.9m. As regards the latter, Lebanon’s Telecommunications Minister has approved the payment of $2.5m which is expected to be made soon.

Also in the report are Cypriot companies with  Primetel said to owe €1.8 m, though suits lodged by the company against CyTA for some €50m are still pending before the courts. Three companies which sell CyTA’s SoEasy cards owe  €1.087m  while a construction company owes €204.256 for damage it caused to CyTA’s cables during construction work several years ago. The issue is before the courts.