Cuts in public enterprises in Ecuador

The Coordinator enterprise of Public Enterprises will seek to save -between January 2016 and the first quarter of 2017- about $ 200 million, optimizing costs and expenses in these companies, explains its manager Jorge Wated.

Two of the companies in which greater savings are sought are TAME ($ 66,270,000) and the National Storage Unit (UNA) ($ 76.8 million). Only in these two companies, the optimization represents $ 143.07 million, i.e., 71.5% of the target.

“We seek that each company adds to the State and do not subtract,” says Wated.

They point to wages. An estimated $ 40 million will be reduced in this category. In TAME that figure is $ 13 million, while salaries would be reduced by $ 5.6 million in the UNA.

Both companies show numerical complications. The TAME website shows a difference between revenues and expenditures of $ 33.4 million in 2015. That year it had revenues of $ 280.26 million and $ 313.73 million in expenses. The deficit in 2016 is $ 24 million between February and August. The January figure is not reported in the transparency link.