Former presidential hopeful Paschalides dies

WELL-KNOWN Cypriot businessman Paschalis Paschalides died at his home in Athens yesterday at the age of 79.

Paschalides was born in 1929 in the village of Prastio. He studied Economics and Political Science in London.

He was a close associate of President Makarios, and served as Minister of Commerce and Industry in the first Council of Ministers.

Paschalides also ran in the 1993 presidential elections against George Vassiliou and Glafcos Clerides, and garnered 18.64 per cent of the vote in the first round.

Paschalides was supported in the election by the Democratic Party (DIKO) and socialist EDEK.

During his career he also served as President of the Greek Mining Company (EME).

Paschalides’ remains will be flown to Cyprus today for burial.

In a statement yesterday, DIKO expressed its sadness over the death, describing Paschalides as one of the most distinguished people in Cypriot business and public life, and in Cypriot society.

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