The incoming Minister of Finance has announced that the tenders for the Chan II hydroelectric station and for Government City will be revised, as well as the policy for ethanol in gasoline.

In addition, adjustments will be made to the parity formula for calculating the price of fuel by eliminating barriers to imports of fuels and changes will be implemented in the modes and methods of payment in state projects.

“In his first meeting with the outgoing Minister of Finance … Dulcidio De la Guardia, the incoming minister, asked for the tender for the hydro station Chan 2 and Government City to be left in the hands of the next administration, because they want to review those projects and those contracts before committing the country to a new debt of over $1 billion … “We are not the government until the first of July … We can make the request and ask them not to do it, but the decision is theirs.” ”

On the subject of ethanol the official said: “I have not had a chance to sit down with the president-elect to discuss this issue, but what is certain is that introducing the obligation of ethanol in the national fuel has driven up the cost of fuel to benefit one company that currently holds a monopoly on the production of ethanol … If the decision is to keep ethanol as part of the mix, well, there has to be competition, so that the cost becomes more affordable to users and that the company that produces ethanol competes. That would be, say, the minimum solution I expect to see. “

Source: Capital.com.pa

Our new Minister comes with an impressive background.