One week after works on construction projects in Panama were halted, the losses caused from each day of strike have been estimated at $30 million.
“… The Panamanian Association of Business Executives (APEDE), one of the most important business associations in the country, said today that Panama is losing close to 30 million dollars every day of the construction worker’s strike, which started last Wednesday over complaints about a salary increase.“
Business leaders at the APEDE explained that the strike is not only impacting construction activities, but also has an effect on the financial performance of the companies related to the construction industry.
See: “Construction paralyzed in Panama“
Héctor Cotes, president of the APEDE, told Critica.com.pa that “… ‘financial commitments are unavoidable and banks must be paid the same at the end of the month. This is an impact that has cascaded and what we urging both parties to do is sit down to negotiate and put the best interests of the country first,” he added.
At the close of this edition, the Panamanian Chamber of Construction (CAPAC) and the Union of Construction Workers and Similar (Suntracs), had not yet reached a consensus on the salary increase, although this morning the business union presented a new proposal to establish in the new Collective Agreement a 5% adjustment.
And if I were in charge. Fire them all and open the door to talented Venezuelan labor to fill the jobs!! Kill 2 birds with one stone.
I will gladly provide the first stone. Union bosses have connections in high places in Hades. -JIMBO