Approves transfer to MEF for B/. 2.4 million

Assembly Budget Committee

The Budget Commission of the National Assembly of Deputies approved to Ministry of Economy and Finance (MEF), two transfers of items for a total amount of $2,456,588, reported the Vice Minister of Finance, Jorge Luis Almengor.

He added that the first budget of $1,956,588 is to deal with contracts for professional services and consultancies with international law firms, which represent the Republic of Panama in three international arbitration processes.

Similarly, the aforementioned item will also support collection procedures and work carried out in 2021, and at the same time, will allow it to face the cash reserve period and expired validity periods that expire on April 30, 2022, explained Vice Minister Almengor.

He pointed out that the second budget by $500,000 is to support the Administrative Unit of Reverted Assets (UABR), so that it provides proper use, preservation and maintenance of the assets it manages.

“All of this is oriented towards the generation of contracts and dealing with the financial obligations of the State; it is crucial that the Budget Commission supports the MEF and other institutions that request support in approving transfers and additional credits”, concluded the deputy minister.

For his part, the Executive Secretary of UABR, Fernando Paniagua, explained that the aforementioned sum would allow the endorsement of a green area-cleaning contract in the Pacific sector, which includes more than 200 hectares in communities of reverted areas such as Albrook, Clayton and the Amador Causeway.