The Government of Panama has adopted measures to rationalize public spending to curb rising fuel prices. Minister of Economy and Finance Felipe Chapman announced that a price cap will be set: $0.90 per liter for diesel and $0.88 per liter for 91-octane gasoline. This measure will be in effect for up to 10 months and will be periodically evaluated by the authorities. The minister also stated that a system based on license plate and beneficiary ID will be proposed to expedite the process. Other measures include reducing foreign travel, sharing official vehicles, implementing staggered hours, and promoting telework. The Undersecretary of Economy, Eida Sáiz, indicated that ministry employees will be reassigned to offices near their residences to avoid commuting to the capital. The public transport subsidy is estimated to cost approximately $15 million monthly. Chapman also announced that the Transit and Land Transport Authority (ATTT) will meet with transport guilds this Wednesday to define the application date and mechanism.
