Greek Parliament Committee Approves New 'Multi-Bill' to Unlock Loans

Greece’s parliamentary committee approved another "multi-bill" bringing together state reforms to unlock further bailout loans form international and European lenders, Greek media reported Friday.

MOSCOW (Sputnik) – The bill is scheduled to go the parliament’s plenary session on Saturday and a full vote on Sunday, Greece’s Kathimerini daily reported.

The new law bundles together new tax hikes, a new privatization fund, and a contingency mechanism that would automatically cut state spending if the country misses budgetary benchmarks, the publication said.

The ruling coalition of left-wing Syriza and right-wing Independent Greeks (Anel) backed the "multi-bill" to opposition from New Democracy, PASOK, the Communist Party, Potami, Union of Centrists and Golden Dawn.

New Democracy lawmaker Adonis Georgiadis was reported denigrating Prime Minister Alexis Tsipras’ coalition of backtracking on its initial opposition to privatize state utilities.

The latest vote is expected nearly two weeks after Greek lawmakers voted in a reform bill that cuts future pension payments, increases value-added tax, and introduces internet, television, coffee and e-cigarette taxes to unlock $6.5 billion in credit.

The pension and tax reforms are demanded by Athens’ lenders to unlock the next tranche of 86 billion euros ($95 billion) of bailout agreed in July 2015.