CHP's Yavuzyılmaz takes a jab at AKP over bridge privatization: 'They are having Canadian and British companies do it'

Yavuzyılmaz reacted to the efforts to privatize 2 public Bosphorus bridges and 7 highways for 25 years. In a statement on his social media account, Yavuzyılmaz noted the following:

"The AKP, which gives speeches about being 'domestic and national,' is having a Canadian company conduct the feasibility study and a British company handle the financing work for the 25-year privatization of 2 public Bosphorus bridges and 7 highways. According to the General Directorate of Highways 2026 Performance Program Report, the public's net profit (own revenue) from 2 Bosphorus bridges and 7 highways in 2025 is 600 million dollars. Based on this, the 25-year net profit is 15 billion dollars. The AKP is looking to collect this level of money in a lump sum before the elections.

So, what will the companies gain if these privatizations take place? The lower the price at which the companies win the privatization tender below 15 billion dollars, the more direct profit they will make. Furthermore, all the hikes they will make to vehicle toll fees within 25 years will generate at least another 33 billion dollars in profit for these companies. With the 15 July Martyrs Bridge and the FSM Bridge also being operated by crony companies in addition to the Yavuz Sultan Selim Bridge and the Eurasia Tunnel, all Bosphorus crossings will have come under the control of crony companies. Since citizens are turned into mandatory customers of these companies for Bosphorus crossings, the companies will raise vehicle toll fees without any competition.

"IT IS A PLAN OF BETRAYAL AGAINST THE FUTURE OF THE HOMELAND"

In the end, at least 48 billion dollars will be transferred from the pockets of citizens to the coffers of these companies over 25 years. The companies that win the tender will use 80 percent foreign loans and 20 percent equity to pay their privatization debts. The Treasury will provide a 'debt assumption commitment' for the foreign loans the companies will use. In other words, it will act as a guarantor. London courts will have jurisdiction in disputes. British Arbitration will be valid. According to the AKP's plan: if the government changes in the general elections, even if the incoming government cancels these privatizations, the Treasury will be forced to repay the loans to these foreign financial institutions.

In the event that the loans are not repaid, these public assets will become mortgaged. All revenues from strategic bridges and highways will flow abroad to foreign financial institutions. The massive interest amounts to be paid to credit institutions will also be loaded onto the backs of citizens through exorbitant hikes in vehicle toll fees. This privatization plan is a plan of betrayal against the future of the homeland."