The Legislature has approved a loan with the International Cooperation Agency of Japan to build an overpass in the city of San Miguel.
From a statement issued by the Legislative Assembly of El Salvador:
The Bypass of San Miguel will become a reality after the unanimous backing of the Legislative Assembly for the ratification of the loan agreement between the government of El Salvador and the International Cooperation Agency (JICA), for a total of $122.5 million . For the construction of this work, which is projected to be the most modern and secure in the region, the Salvadoran State will provide a counterpart of $36.8 million.
The opposition in the Assembly is calling for government approval of the bill on fiscal responsibility before approving the issuance of debt of $1.15 billion and a proposed tax package.
The lawmakers argued that there is a need to thoroughly scrutinize the text of the proposed reforms, as there is uncertainty over the destination the government will chose for the proceeds as well as strategies to revive the national economy in order for the state to ensures there is liquidity rather continuing to generate more debt for the country.
Congress has unanimously endorsed the National General Budget for 2014 with an increase of $174 million compared to 2013.
From a press release issued by the Legislative Assembly of El Salvador:
The National Assembly has unanimously passed the General Budget of the Nation and the corresponding Wages Act for Fiscal Year 2014. The decision indicates that it be "primarily oriented towards social areas so that El Salvador can have a population that is healthy, educated and productive with skills and opportunities to fully develop their potential and become the social basis of national development ".
A draft amendment to the Tax Code in El Salvador proposes putting the names of tax debtors in the public domain.
According to Congressman Guillermo Gallegos, this would be a "moral condemnation", because maybe people feel distressed on seeing their names published and pay the taxes they owe.
"... deputies will be allowed to request information from the Ministry of Finance on tax debtors and the Treasury will grant it within 10 days.
The reform excludes from payment cargo carriers that already have private insurance coverage in place in Central America.
From a press release by the Legislative Assembly of El Salvador:
With 54 votes in plenary legislature, Section 20 of the Special Law for the Establishment of the Fund for the Care of Traffic Accident Victims (Fonat) was reformed to incorporate a clause that excludes payment of the special contribution by freight vehicles with foreign plates, for those who already have an insurance policy against accidents and / or damage to third parties, to ensure compensation both in terms of health as well as financially, with current coverage level in Central America, including El Salvador.
Salvadoran Congress has passed a law that will allow public institutions to form partnerships with private companies for infrastructure and public services projects.
From a press release issued by the Legislative Assembly of El Salvador:
In order to establish the regulatory framework for the development of projects for the provision of infrastructure and public services of general interest effectively and efficiently, the Legislative Assembly in Plenary approved with 84 votes in favor, the "Special Law on Public Private Partnerships"(PPP).
The main freight union of Central America has issued an ultimatum to the government of El Salvador to modify the collection of the new tax levied at customs offices.
Representatives of these unions which integrate the Central American Council of Transport have given a deadline of May 31 to amend this charge, otherwise on that date, if Congress has not amended the law which created the new tax, the truckers will go on strike for an undefined period causing heavy losses to Central American companies.
Salvadoran Congress has stipulated that the minimum investment amount for a private public partnership should be 10 million dollars.
From a press release of the Legislative Assembly of El Salvador:
The Special Committee on Finance and Budget, began review on Monday of the Bill on Public-Private Partnerships (PPP), which is to establish the regulatory framework for the development of projects for the provision of infrastructure and public services of general interest, in an effective and efficient format.
National regulations are to be adjusted to conform to the Association Agreement with the European Union, giving added value to designations of origin or geographical identifications.
From a press release issued by the Legislative Assembly of El Salvador:
The full legislature has passed amendments to the Law on Trademarks and Other Distinctive Signs, with 79 votes, which will allow the maximization of production by small and medium businesses, the specialization of product quality and diversification of export markets.