The head of Greece’s privatization fund (TAIPED), Yiannis Koukiadis, has resigned, citing personal reasons.

It was revealed on Wednesday that Koukiadis tendered his resignation to caretaker Finance Minister Giorgos Zannias. In his letter, Koukiadis said his decision to leave the post, which he has held since July last year, were purely personal.

Greece’s coalition government has backed the privatization process, although some reservations have been expressed about selling off so-called strategic assets.

TAIPED suspend the implementation of its sell-off program due to the political uncertainty caused by the two recent general elections.

Executive director Costas Mitropoulos told Kathimerini in a recent interview that the decision has harmed the credibility of the fund, which according to the law is independent from the government, while it also renders the target of 3 billion euros in revenues nonfeasible for this year.

Speaking to Skai TV on Wednesday, Koukiadis said the troika's target could not be reached and that the fund's work had been held up for three months due to the elections. He also said claimed political interference in his work.

Sources suggest that other members of TAIPED are also prepared to step down.