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PDP Rep Evaluates Alternatives to Mitigate Financial Risks of Public Corporations

By on January 24, 2016

SAN JUAN – The president of the House Treasury and Budget Committee, Rafael “Tatito” Hernández, said Sunday that he will continue gathering this coming week several administration officials so they understand that within their respective agencies or corporations there is still room to restructure them further.

“The changes cannot be cosmetic. They must be real. There are agencies that have already made the necessary adjustments, but others can be adjusted further. So far, the meetings I had last week were very productive,” the legislator said.

As an example, he said the director of the Aqueduct and Sewer Authority, Alberto Lázaro, “put himself in the best disposition to assist this work plan, convinced that we will achieve real structural steps to address the fiscal problem,” Hernández said.

He added that “we cannot only wait for [U.S.] congressional legislation. Us here have to act by implementing the alternatives we have available and that are viable right now to make way for the country’s economic recovery.”

According to the politician, “we must continue to evaluate alternatives to mitigate corporations’ financial risk in order to find specific solutions and structure the legislative language to address the fiscal condition of each of these entities.”

He explained that the idea is to get a clearer picture on what steps should be taken to provide the agencies “with the tools to access capital, go to the markets, meet their commitments with suppliers, continue day-to-day operations and undertake future capital improvements.”

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