They assure that the urgency of this request lies in the fact that said companies maintain with banking entities, subcontractors and suppliers that they have not been able to satisfy due to the lack of payment by the National Government.
Companies owe suppliers and banks. Photo: Courtesy
Unable to pay banks, subcontractors and suppliers, this is how the country’s construction companies find themselves due to the lack of payment by the Government, for this reason the Panamanian Chamber of Construction (Capa), through a letter, requested the President of the Republic Laurentino Cortizo to expedite, urgently, the payments owed.
According to Capac, the debt with the contractor companies exceeds $150 million and if these payments are not made, the economy will continue to be stagnant.
In the note, which was also sent to the Minister of Economy and Finance, Hector Alexander, and to the president of the Assembly’s Budget Commission, Benicio Robinson, Capac stressed that although President Cortizo promised to make the payments in June of the year ongoing, the money has not yet been disbursed as the approval of the Budget Committee is required.
According to the letter sent on August 19, CAPAC hopes to have the “understanding and support” of the National Government, which will benefit a sector that contributes and is the economic and social pillar of the country. The letter recognizes the actions carried out by the Executive in the management of an extraordinary credit for $300 million to partially meet the pending obligations with State contractors for the execution and progress of works.
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