Yes to the Container Port

President Varela has vetoed the bill that repealed the concession contract to build and operate a container terminal in Rodman, which had been awarded to PSA Panama International Terminal.

Tuesday, June 5, 2018

The bill approved by the National Assembly in mid-April contained an article that repealed the concession contract with PSA Panama International Terminal, approved more than three years agoAt the time, the decision of the deputies was strongly criticized by the Panamanian business sector, which described it as a threat to legal security.

Laestrella.com.pa reports that "... The presidential veto is based on the fact that, through the concession, some $350 million will be collected in taxes, plus some $27 million in fees, use and wharfage. In adddition, it generates employment, financial and tax resources contemplated and integrated into the General Budget of the State."

Regarding the deputies' intention to include a topic related to a port concession within a bill referring to other issues, "... President also recalled that there is a ruling by the Supreme Court of Justice that deals with matters totally alien to the original project that is being discussed by constitutional requirement, that this foreign matter must have received a first legislative debate in order to be a Law of the Republic."

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