1996 – Page 32

The Monetary and Financial Bill and the bill for the General Law of Electricity (which will permit the privatization of the electrical service) went back to Congress this week. Both bills were reintroduced by the Senate’s president, Amable Aristy Castro, and Senator José Hazim Frappier.

The new director of the Corporación Dominicana de Empresas Estatales (CORDE), Euclides Gutiérrez F., has temporarily suspended the spending of monies on advertising by the nationalized group, owing to its bad financial situation. He said that as soon as CORDE’s situation stabilizes, it will resume expenditure on publicity.

Speaking on behalf of the Asociación Dominicana de Exportadores (ADOEXPO), Alberto Bonetti, president of the association, said that the export sector feels optimistic in view of the announcements made by the new government regarding the promotion of exports. He said that President Leonel Fernández has clearly detailed the steps of the government’s plan for reactivating …

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The privatization of the Corporación Dominicana de Electricidad (CDE) could be effected via Santo Domingo’s stock market, says Donald Cott, the latter’s executive director. He feels that the process of privatizing the Corporación would be more open if it is done through the stock market because there would be more access for investors. Mr. Cott …

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Petroleum based fuel consumption during the period January-July 1996 increased by 6.6% when compared to the same period in 1995, according to the figures published by the Refinería Dominicana de Petróleo (REFIDOMSA). Last year 13,063,600 barrels were consumed, while this year the figure is 13,926,400.

The nickel mining company, Falconbridge Dominicana, paid US$30.8 million in taxes during the period January-July. Its net earnings totaled US$25.5 million. These figures were contained in a report on the company’s trading for the first seven months of the year. According to the same report the production of nickel for the same period was 39,964,596 …

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Teresa Meccia de Palma, the former Argentine ambassador to the Dominican Republic, left the country on 15 August, two days after her replacement officially presented his credentials to the then President, Joaquin Balaguer. Mrs. Meccia de Palma’s family has been implicated in the brutal slaying of 12-year-old Jose Rafael Llenas Aybar on 3 May. During …

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President Joaquin Balaguer, on his second to last day in the National Palace, granted Santo Domingo mayor Rafael Subervi Bonilla ample powers to cancel the contract between the Dominican government and the Attwoods Dominicana company for the collection of refuse in the capital. Through presidential decree No. 300-96, Dr. Balaguer also gives the city council …

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During his last hours as President, Dr. Joaquin Balaguer reached an agreement with Santo Domingo Mayor Rafael Subervi Bonilla over the disputed land on the grounds of the old Perla Antillana horse-racing track. When the central government assumed control over a large part of the land to construct the impressive Plaza de Salud medical complex …

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Prior to leaving his post, the general administrator of the Corporación Dominicana de Electricidad (CDE), Amilcar Romero, announced that its lawyers would sue the Smith-Enron corporation for charging the state-owned electricity company for power that he claims was never generated. The Smith-Enron company operates a power station in Puerto Plata which, according to its contract …

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