NewsWhore
11-27-2007, 04:30 PM
Industry and Commerce Minister Melanio Paredes warned yesterday that the government is opposed to any passenger and cargo fare hikes. Diario Libre writes that the government, to prevent the hikes, has offered to cover 50% of the cost to install natural gas converting systems and comfortable financing for the remaining 50% of the cost. Natural gas is considerably cheaper than conventional fuels. Hoy writes that leaders from four leading transport unions met for discussions yesterday and plan to meet again today. The transport unions propose a gas price freeze at RD$102 per gallon and to use RD$17 billion, 5% granted by Hydrocarbon Law, to benefit transporters. There is also a proposal for the government to reduce its profit margin. Quoted in Diario Libre, Paredes that his ministry and the Ministry of Hacienda have initiatives in the pipeline to combat this latest issue but that they need at least two months to develop them.
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