CHP's Yavuzyılmaz: Mehmet Şimşek's signature caused the state a loss of 41 billion 401 million liras

Yavuzyılmaz announced that they have determined that a signature by Mehmet Şimşek, who was Deputy Prime Minister in 2017, caused the state a loss of 41 billion 401 million TL at current exchange rates.

Republican People's Party (CHP) Zonguldak Deputy Deniz Yavuzyılmaz made striking statements during a live broadcast.

Here is the statement by Deniz Yavuzyılmaz, speaking to Tele1:

“We have determined that in 2017, with the signature of the then-Deputy Prime Minister Mehmet Şimşek, the AKP converted the debts of electricity distribution companies and thermal power plants in the privatization process, which were owed to the state in US dollars, into Turkish liras and also provided a 6-year, 6-installment payment plan, causing the state a massive amount of loss.

Look, we have determined with official documents that the AKP created a huge loss by converting the privatization debts owed to the state in US dollars by the Yatağan Thermal Power Plant—owned by Aydem Energy, formerly known as Elsan, which is the owner of Gediz Elektrik Dağıtım A.Ş.—into TL and allowing payment in 6 installments.

The loss is 263 million dollars, and when the contract was signed in 2017, the debts in US dollars were converted to TL at an exchange rate of 3.53, and payments continued at this rate throughout the year. 

"A MASSIVE LOSS"

At the end of 6 years, the date the final installment was paid was December 2022, and the dollar exchange rate was 18.61 TL.

In other words, there was a 5-fold difference. Therefore, a massive loss was created here through the handouts the AKP gave to its crony companies.

The total loss created by converting the US dollar-denominated privatization debts of 10 companies, which we have proven with documents, into TL and providing a 6-year, 6-installment payment plan is 1 billion 257 million dollars, which is 41 billion 401 million TL at the current exchange rate.”

News Source: 12punto