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Wednesday, April 23 2014 @ 07:47 AM EDT

Quijano Defends Government's Reductions in Electricity Subsidies

Money Matters
Ricardo Quijano - Minister of Commerce and Industry in Panama
Ricardo Quijano - Minister of Commerce and Industry in Panama
People should be aware that taxpayers cannot afford to pay for the subsidy any more, said the Minister of Trade and Commerce Ricardo Quijano this morning, Monday, 9 July 2012, when asked about the government's plan to phase out electricity subsidies. Quijano said on the channel 13 Telemetro Report morning news broadcast "there is a very big problem with the subsidy. The country cannot take it anymore, and especially the taxpayers, who are actually contributing their taxes to the state, so it can be given to others in the form of a subsidy." Quijano asked the general public to monitor their energy consumption and for "everyone to do their homework" so that electricity bills are not too high. Quijano said "people are going to be aware that they are paying a little more, because the government is not paying subsidies any more. We have to be equally supportive of people who are paying their taxes." As of July 1 an adjustment was made to residential customers in energy, corresponding to 1.25% and 10% for other customers (retailers and large companies), which will lead to a gradual reduction in subsidies that the State offers to consumers. (Prensa)

Editor's Comment: Ricardo Quijano is a potential presidential candidate for the ruling Cambio Democratico political party to replace Ricardo Martinelli. The CD will have a primary process sometime in early 2013.

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