Assembly approves in third debate trust fund to compensate for the increase in fuel

The plenary session of the National Assembly approved this Thursday, in the third debate, Bill 808, which creates a trust for the reduction and stabilization of the increase in the price of petroleum products.

The project was approved with 43 votes in favor, 0 against and 0 abstentions.

The last-minute modification completely changed the original proposal presented by the deputy of the Democratic Revolutionary Party, Zulay Rodríguez, who sought to temporarily suspend the collection of the tax on gasoline and diesel, while the armed conflict between Russia and Ukraine lasted.

With the modifications, the Ministry of Economy and Finance must create a trust in the National Bank of Panama for the compensation, reduction and stabilization of petroleum products. It was not said where the funds to feed the trust will come from. It is established that the National Secretary of Energy must periodically monitor the prices of petroleum derivatives.

The bill must go to the Executive for approval or veto. It was also added that it will come into force after its promulgation.