Day: Jul 22, 2020

Drug smuggling causes losses of $15 mn

Drug smuggling causes losses of $15 million through tax evasion, and formal employment in the country, the increase in drug prices is due to sporadic contracts by importers and lower production compared to imports. Drug imports account for about 80%, with local production accounting for the remainder, but in the pandemic, purchases of raw materials, as well as drugs, skyrocketed.

Oscar Veizaga is appointed manager of SABSA

The board of directors of Servicio de Aeropuertos Bolivianos Sociedad Anónima (Sabsa), which is part of the Ministry of Public Works, has appointed Óscar Veizaga Siles as the new general manager, replacing Roberto Cortez. The company manages the operations of the international airports of El Alto in La Paz, Jorge Wilstermann in Cochabamba and Viru Viru in Santa Cruz.

Bolivian steel company plans to export 350,000 tons of iron

The state-owned Empresa Siderúrgica Mutún expects to close the present administration with an export volume of 350,000 tons of iron, which will allow it to generate revenues estimated at $9 million. From Puerto Busch, Empresa Siderúrgica Mutún (ESM) shipped the first 25,700 tons of iron Fe 63% and Fe 65%, which it negotiated with Arcelor Mittal. The trade operation is for a total volume of 150,000 tons that will ship until December on the Paraguay-Paraná waterway. Also, ESM plans to add two multinationals, one from the United States and the other from China, to its portfolio of clients, with whom it expects to close two export contracts for a total volume of 200,000 tons of iron.

Chuquisaca claims Ñancahuazú X1 oil well whose investment is $73 mn

In February of this year, Total and Gazprom, partners in the Azero block, began drilling the Ñancahuazú X1 well, with an investment of $73 million. According to YPFB, this is an exploratory project that has a high potential for natural gas that will be confirmed later when it reaches 5,500 meters deep. It has generated conflict between the governments of Santa Cruz and Chuquisaca, which on Tuesday ratified the defence of the Ñancahuazú X1 well, located within its territory.

Government allocates $2.2 million for life insurance for police officers

The national government approved Supreme Decree (D.S.) 4289, which allocates resources for life insurance and permanent disability of 100,000 Bolivians, which will benefit some 40,000 police officers who are in the front line of the fight against COVID – 19 throughout the country. The budget allocation of additional resources is Bs 15,406,000 ($2.21 mn) in favour of the Ministry of Government to contract total and permanent disability or death insurance.