NewsWhore
07-29-2009, 03:40 PM
Despite the US$130 million financial package the government secured with Sun Land and another RD$5.2 billion included in last year's budget, works that were due to be carried out with these funds are on hold, as reported in Diario Libre. The newspaper points out that the construction of the five buildings at the UASD university is paralyzed.
The government was accused of taking out the financing without submitting it to Congress. A controversial Supreme Court ruling confirmed that the government had violated the Constitution when taking on the loan, but excused the government on the grounds that only Congress could make the accusation.
The 2006 loan and its 19 IOUs for US$130 million were signed by engineer Felix Bautista, of the Supervisory Office of Public Works, an Executive Branch department, and the Sun Land corporation.
Diario Libre recalls that the use of funds has been questioned all along, because the estimates of what has been invested in public works falls below the allocation of funds. The contract originally stipulated the construction of 11 works, but an addendum later reduced these to a parking building, a university hospital, a cafeteria, a technological center and an administrative building for RD$3 billion.
On 24 October 2007, the government and the company rescinded the contract and the government allocated RD$5.24 billion in funds in the 2008 National Budget for the conclusion of the works that should have been completed on 15 July of 2008.
More... (http://www.dr1.com/index.html#8)
The government was accused of taking out the financing without submitting it to Congress. A controversial Supreme Court ruling confirmed that the government had violated the Constitution when taking on the loan, but excused the government on the grounds that only Congress could make the accusation.
The 2006 loan and its 19 IOUs for US$130 million were signed by engineer Felix Bautista, of the Supervisory Office of Public Works, an Executive Branch department, and the Sun Land corporation.
Diario Libre recalls that the use of funds has been questioned all along, because the estimates of what has been invested in public works falls below the allocation of funds. The contract originally stipulated the construction of 11 works, but an addendum later reduced these to a parking building, a university hospital, a cafeteria, a technological center and an administrative building for RD$3 billion.
On 24 October 2007, the government and the company rescinded the contract and the government allocated RD$5.24 billion in funds in the 2008 National Budget for the conclusion of the works that should have been completed on 15 July of 2008.
More... (http://www.dr1.com/index.html#8)