Dominican President draws a path out of the crisis

President Leonel Fernandez last night said he’ll convene an encounter with "all the living forces" in the country next month, to jointly define and agree the road we Dominicans must travel to confront the current "adversities, misfortunes and uncertainty" ahead.

He said he’s forming a public-private commission by decree to bolster the electrical sector, which will work in the application of an integral plan aimed at solving its structural problems from now until 2012.

He also revealed that a delegation from the United Arab Emirates will visit the country from the 18th this month to examine the Government’s recent proposal to obtain their cooperation, “as promised us during my trip to that region, with respect to the national electrical sector."

Against crime

Fernandez, in a speech to the country from the National Palace, also cautioned that there’ll be "zero tolerance" against criminal acts and drug trafficking in the country, and a series of measures will be taken, including bolstering the law enforcement agencies.

Most of the chief executive’s his speech centered on the international financial crisis and its expected impact on the Dominican economy, and indicated that he’ll submit to Congress a bill aimed at allowing access to the pension funds, which currently total around 68 billion pesos.

Energy plan

Fernandez said the electrical sector has a difficulty of conjuncture, generated by the mid year rise in oil prices, which, to prevent it from directly affecting consumers, the Government assumed directly, and that, at present, has generated a debt with the power companies of around 300 million dollars.
The chief executive added that “it’s that debt, added to the expected subsidy for the year, that the Government has covered entirely, the fundamental cause of the blackouts that the country was experimenting particularly acutely approximately one month ago."

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