ECONOMY

TAIPED is stripped of its management and most projects

Alternate Finance Minister Nadia Valavani on Friday asked the management of state privatization fund TAIPED to resign, as Alexis Tsipras’s government intends to pare down the fund’s sell-off portfolio to a considerable extent.

Valavani met on Friday with TAIPED chairman Emmanouil Kondylis and CEO Paschalis Bouchoris, asking them to leave their posts. Kondylis and Bouchoris were appointed last summer. She also asked for details on the fund’s operation to be delivered on Monday or Tuesday.

Sources say that the ministry has also demanded the resignation of all other members of the TAIPED governing board, while it remains unknown what will happen with its Council of Experts, whose members include representatives of the country’s creditors.

The new government has made it clear that a number of sell-off projects previously included in TAIPED portfolio have been canceled.