| Login | |
| Currency | |
| Weather | |
| |
Government seeks to transfer funds for electricity sector
posted on: Jun 25 2010 10:49 by Royston. Viewed 331 times.
The Finance Minister, Vicente Bengoa, revealed Thursday that the government will submit to Congress next week, a proposed transfer of funds from various public institutions for a total of up to US$373 million for the electricity subsidy. He explained there was US$380 million allocated in the budget this year. 
Bengoa also said that failure to get congressional approval so far for the REFIDOMSA sale was causing more problems for the government as this sale would release US$133 million to the electricity sector.
He added that the electricity budget was exhausted and more funds would be needed by July. Failure to find the money would mean cost cutting measures would need to be implemented as the government could not create another deficit.
Interviewed in the National Palace after meeting with President Leonel Fernandez and the representatives of the World Bank and IDB, to discuss the electricity sector, Bengoa said that if the government increased the budget without seeking additional resources it would create a deficit.
"There must be a transfer of funds, because we can not increase spending to cover the deficit of the energy subsidy," the finance minister said .
26 related news articles
IMF wants Government to increase electricity rates by 18%: Nov 10 2011
A million Dominicans not paying for their electricity: Dec 17 2010
Electricity tariff to increase by 11% in December: Dec 1 2010
Meeting to discuss Caribbean electricity network: Oct 5 2010
Lack of quorum blocks approval of REFIDOMSA sale: Jun 25 2010
2 business owners prosecuted for power theft: Jun 25 2010
Violence on the streets as 20 hour blackouts continue : Jun 19 2010
Finally, REFIDOMSA shares sold to Venezuela: May 7 2010
Chavez arrives today to sign purchase agreement for REFIDOMSA: May 5 2010
RD$4 million per month electricity fraud uncovered: Apr 21 2010
Refidomsa sale postponed - again: Apr 20 2010
Venezuela confirms it will (finally) buy 49% of REFIDOMSA: Apr 6 2010
Violence in the streets as power cuts continue: Mar 20 2010
Government says it will settle electricity debt by March 26: Mar 19 2010
Electricity production still falling: Mar 9 2010
Billions of dollars in bonds for road works: Mar 4 2010
Electricity budget US$250million short, rationing continues: Mar 3 2010
Fernandez on Economy, Electricity, Refidomsa and Agosto: Feb 25 2010
Government fails to reduce debt to electric companies, crisis deepens: Feb 18 2010
Refidomsa shows profits and private sector interest grows: Feb 3 2010
To buy or not to buy - is Venezuela stalling on REFIDOMSA?: Feb 3 2010
Venezuela drops out of deal to buy Refidomsa: Jan 22 2010
No Blackouts?: Dec 17 2009
Shell sells - to Sol: Nov 22 2009
Venezuela buys 49% stake in Dominican Republics refinery for US$131.5M: Nov 1 2009
Dominican Republic receives US$20 million loan from Petrocaribe starts to pay off debts: Sep 27 2009
Digg it!
del.icio.us
MySpace
Facebook
Fark
Reddit
Newsvine| Recent Forum Messages |
|
Tourist Card Information Ok cool, I'm coming to Sousa Feb 8th by CHUCKJER on Feb 4 2012 13:10 Tourist Card Information Chuck, The exit fee goes up increm by frank12 on Feb 4 2012 12:51 Tourist Card Information Also I wonder if it depends on which by CHUCKJER on Feb 4 2012 9:49 Tourist Card Information How much is the Exit fee? And I trav by CHUCKJER on Feb 4 2012 9:36 Tourist Card Information If there was something illegal about by frank12 on Feb 3 2012 23:12 |
| Recent Comments |
|
by jpgag2000 on Feb 4 2012 21:15 Les Dominicains constituent le seul peuple au monde qui by Dave on Feb 3 2012 16:20 its written by an environmental consultant Nuff said. by Jonny on Feb 3 2012 15:10 This article makes it sound like a pleasant stroll thro by DB on Jan 29 2012 10:35 Whoever writes these articles should learn at least bas by Yannick martin on Jan 25 2012 9:40 SHOUDN'T brag about it !!!!!!!! |
