The Government develops strategies to calm the situation with contractors that have outstanding bills. Bonds, referrals and payment facilities are on the list of proposals.
Manufacturers and traders of induction stoves are the last to join the group of creditors that will not receive their payments in cash. Pablo Zambrano, Manager of the Efficient Cooking Program, explained that these companies will receive Central Bank securities by $ 34 million.
What is the state debt with manufacturers? When a citizen buys a kitchen in installments, the monthly value is paid to the State through the electricity bill. However, the shop or the manufacturer receive the full money immediately. To date, the Government has paid 72 million to that system. 34 million, which will be bonds, correspond to October and November purchases. Zambrano said that the payment with papers will be done this week.
A similar case was that of builders. The industry asked the payment of bonds to negotiate those titles with the Internal Revenue Service.
President Rafael Correa asked for patience to creditors and offered other solutions. Contractors that due the to lack of resources have delayed the payment of contributions to the Ecuadorian Institute of Social Security (IESS) will not pay any penalty or interest.
They will neither have complications with the Internal Revenue Service (SRI for its Spanish acronym). The government will make a crossing of accounts and will exempt them from paying the VAT and the Income Tax.