The president of the Modern Revolutionary Party (PRM) Jose Ignacio Paliza advises that the public be vigilant in the sale of shares operation the Dominican government has announced for the Punta Catalina thermoelectric coal-fired power plant it is building in Peravia province. Paliza says the public needs to pay close attention to the compensation the government will be granting investors to make the sale and how this could translate into higher cost of power for consumers.
Paliza speculated that no one is going to invest money in a power plant if the market cost of assets is higher than the market price.
“And Punta Catalina, which originally had a cost of US$1.2 billion, is now close to US$3 billion, that is, the cost of its construction has doubled over time,” he said.
The senator for Puerto Plata also said that this is why the PRM has opposed to the selling of assets without being accountable to the National Congress and without having its approval as if the Congress did not exist,” he stated. The Presidency pushed through the PLD-majority Congress a provision in which the sale would not be subject to congressional approval.
Paliza spoke when interviewed by journalists on 9 January 2019 after participating in a meeting at the Central Electoral Board (JCE).
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10 January 2019
