Cabinet endorses the draft budget for fiscal year 2016 ACP

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The Cabinet Council approved tonight the draft budget of the Panama Canal Authority (ACP) in the amount of 2000 630 million dollars in revenue for fiscal year 2016, which runs from October 1, 2015 30 September 2016.

The estimated budget, which was previously endorsed by the Board of the ACP by Agreement No. 281 of June 2015, according to the administrator of the ACP, Jorge Luis Quijano, projects a direct contribution to the National Treasury thousand $ 60 million and an indirect contribution of 181.5 million dollars.

Quijano explained that the main source of income of Canal tolls are followed by service revenues related to traffic, sale of electricity, drinking water sale, miscellaneous and interest income.

He added that the income of the Panama Canal FY cover operating expenses, payments to the Treasury by law per net ton and services provided by other state agencies, and the provision for programs to regulate investment, expansion and inventory.

ACP administrator reminded that from April 2016 a new system of tolls and tonnage rules, which was approved by the Cabinet by Cabinet Resolution No. 36 of April 14, 2015 will be implemented.

In this scheme new structures for segments of container, dry and liquid bulk [tankers, chemical tankers and gas carriers] and Ro-Ro car carriers are set, and a new segment for vessels carrying liquefied natural gas is created.

Source: www.prensa.com/

Ernesto Chong de León, Ernesto Emilio Chong Coronado