Electricity distribution companies will receive about $300 million less in state subsidies leading them to foresee an increase in rates which will affect the productive sector.

The State will compensate only the Chiriqui electricity distribution company (Edechi) with $27 million and the electricity distribution company Metro-West (Edemet) with $38 million, ceasing to give subsidies to the company Ensa.

The president of the Union of Industrialists in Panama, Ricardo Sotelo told Panamaamerica.com.pa that “… By taking away about $300 million in subsidies from the companies, these entities will proceed to raise rates, the rate increases will depend on the network connection that is connected to each business. To date it has not been stipulated how much the increase of goods and services will be e. ”

For its part, the president of the National Council of Private Enterprise, Elisa Suarez, added “… 70% of staples like chicken and meat require energy to be processed or maintained, therefore items in this category will rise in cost too. “

Source: Panamaamerica.com.pa