Metro Bus system now state owned

PANAMA’S 1,236 Metro buses are now the property of the state following the Friday Jan 29 finalization of the purchase 100% of the Mi Bus share’s.

The government will now look at hiring the American company First Transit to operate the system. That will include introducing a stabilization plan that includes the management of the Metro Bus system.

The government said that current Mi Bus employees would be paid benefits and allowances between Feb. 22 and Feb. 29.

The Cabinet Council authorized the government to take over the Metro operations in December 2015. The takeover will cost the government about $50 million, It will also assume $195 million in debt, for a total cost to taxpayers of $245 million.