2008 – Page 153

Twenty-four year old Luis Castillo has signed a five-year extension of his contract with the National Football League’s San Diego Chargers, making him a NFL Superstar. Castillo will receive more than $19 million over the first two years of the contract and possibly more than $43 million over the lifetime of the deal. Castillo was …

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El Nacional supermarket is offering 40% off all tomato varieties and 20% off other fruits and vegetables. Carrefour is advertising its Wednesday fruits and vegetable sale with plantains for RD$7.55ea, avocados for RD$5.90ea, pineapples for RD$17.95ea, watermelon for RD$6.95lb, cantaloupes for RD$20.95ea, and Keith mangos for RD$7.95ea.  

Last night President Leonel Fernandez was present at a formal ceremony marking the start of the low consumption light bulb program (PSB), which will replace 10 million high-consumption bulbs with 10 million low-consumption bulbs. The government has already distributed low-consumption bulbs in low income barrios in the past, but this time around the program got …

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Economy, Planning and Development Minister Temistocles Montas has warned that the government will subsidize the energy sector only up to US$900 million, which is already US$250 million above what was budgeted for all of 2008. Montas says this means electricity rates might have to be readjusted. Other sectors say that the energy service is padded …

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State-run Electricity Companies (CDEEE) vice president Radhames Segura says that the government will once again be trying to renegotiate several energy contracts. The goal is to save the government US$200 million annually. Segura said that the agreements are unfair, despite being legal, adding that the government would try to renegotiate the distortions in the Madrid …

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If the DR ever decides to install a nuclear reactor, the government would have to invest US$4 billion, according to Rafael Cuello, director of Nuclear Issues at the National Energy Commission. Cuello touted the cost efficiency of nuclear energy saying that users pay US$0.05 per KW of energy while Dominicans pay US$0.21 per KW of …

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The cartel of tanker owners, the Petroleum Tanker Transporters Union (SACPTA) that for more than 40 years has had a monopoly on transporting fuel to Texaco stations in the DR, is again counting on the government to come through for them. The Fernandez administration gave them hope yesterday when it asked its Legal Advisory Department …

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In January 2007, Law 496-06 on Austerity in the Public Sector, which sought to curtail superfluous spending in government, went into effect. The law was passed concurrently with the passing of the 2006 Fiscal Reform that considerably increased taxes and government revenues. But, while the government did benefit from a windfall in additional income, official …

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Chamber of Deputies President Julio Cesar Valentin is repeating his criticism of the culture of clientelism in the DR, saying that it weakens government institutions. Valentin said that this culture is prevalent in the ruling PLD party, of which he is a member. He says that if the culture of political patronage continues it will …

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Speaking at the United Nations yesterday, Dominican Foreign Minister Carlos Morales Troncoso proposed the creation of a Global Solidarity Fund with contributions from oil-producing countries. The Fund would enable oil producers to help poorer nations by contributing a portion of their earnings towards compensating developing countries for the high international fuel prices. The initiative, which …

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