CABINET MEETING

Action packed

07-04-2009 | ISIDRO RODRIGUEZ

irodriguez@laestrella.com.pa

Panama Star PANAMA. President Ricardo Martinelli promised change. And change required action.

The first cabinet meeting of the new government, was held in a recreation center in Pacora east of the capital city, and was action packed.

Alberto Vallarino, Finance minister, proposed a commission to audit all government concessions since 1996.

He specifically pointed to PYCSA and ICA, the mexican companies that manage the Corridors North and South, and have been criticized for price increase in recent months. They have been identified as the main target of a detailed and extensive audit.

The commissions was given a $750,000 budget and will be composed of two engineers, two lawyers and one finances expert.

But the good news are not only for the Corridors.

The team will also audit the electricity companies, which have held concessions for more than 10 years, and have frequently been the target of criticism with constantly rising prices.

According to Vallarino, the companies misused the term equation to cause changes in the prices.

“Changes in the tariffs caused suspicion, the population deserves to know the finance reality of these companies” he said.