Whiffs of bullshit and payoffs related to sweetheart deal for Oil Company in Taboga.

Energy/Infrastructure

The National Economic Council (Cena) of the Ministry of Economy and Finance (MEF) justified the low rent lease authorized in the concession contract between the Mayor’s Office of Taboga and the company Bona Pacific Corp. , to establish an oil terminal in more than 34 hectares located on Boná Island.

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Business with an island that is a natural refuge
According to the Cena, the contract was approved five days before the law of public procurement was regulated, through Executive Decree 40 of April 10, 2018 . Said rule, in its article 131, states that in order to determine the average value of the appraisals made by the MEF and the Comptroller General of the Republic , ” only a margin of tolerance of up to 15% of the difference between the appraisals of real estate and up to 10% for the appraisals of movable property of those that the State will dispose of “.

The reaction of the Cena comes 14 days after the Comptroller confirmed to La Prensa that it had not given its endorsement to the lease because the Mayor of Taboga decided to use the valuation of the MEF, which had a difference of 36.98% below that had done that auditing entity.

https://twitter.com/MEFPANAMA/status/1113486452300701697/photo/1

https://www.prensa.com/podcasts/pagina_dos/bona-taboga_0_5269722984.html

https://www.prensa.com/sociedad/MEF-aprobacion-proyecto-Bona-cumplimiento_0_5275722448.html

The communiqué of the Cena – announced this Wednesday, April 3 – ensures that the lease agreement “will bring benefits to its population (Otoque Oriente)”, and that “it does not contain an option for sale”. However, in the contract published in November 2017 and January of this year in the Official Gazette , it is contemplated “to give Bona Pacific Corp. the preferred option of leasing and / or selling over the rest of the farm”.

The developer company promises to invest $ 140 million in the oil terminal.

 

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