Here we go with the new President of Panama suggesting a review of laws that were implemented by the past President.

President Juan Carlos Varela has announced that prices, rates, importation and obligations established in the law will be reviewed when he takes office.

The next president of Panama also noted in an article on Prensa.com that “… only the market of domestic ethanol production should be incorporated thereby promoting agribusiness.”

The law establishing the mandatory use of ethanol in gasoline which is produced and distributed in the country was approved in 2011 by the administration of Ricardo Martinelli. “…Ethanol is currently sold at a fixed price set by the company Pesé Golf, which was accepted by the Government. The cost is $1.21 per liter or $4.58 per gallon, a price which is more than double the international price ($2.08 a gallon). ”

Varela said that “… ‘Within the first months of our government this topic will be discussed in Cabinet and a draft law reform presented’ to the National Assembly.”

Source: Prensa.com