Waked employees facing uncertain future
EMPLOYEES of the Waked family’s 67 companies whose job future is uncertain as investigations into alleged money laundering by their bosses continue, have received their pay for the first half of May.
What’s to come is still unsure for some 5,000 workers as Panama’s government negotiates with US Treasury officials tp see if temporary operating licenses can be issued for some of the companies,
The Treasury, has blocked US business transactions, with shops in the economic hub.
Grupo Wisa owned by Abdul Waked, includes La Riviera the exclusive Soho Mall, Felix B. Maduro, Importadora Maduro, the Duty Free stores at the International Airport of Tocumen ,real estate and insuranco perations, as well as La Estrella de Panama and El Siglo,
Companies under the command of Nidal Waked, arrested in Colombia that have been affected are: Life Panama (Free Zone) Millennium Plaza, the Hometeck shops and Balboa Bank, a company that the Treasury Department granted a temporary license to operate, on Friday, May 13.
Because of the impact the US research has had on the image of Panama and its possible economic effects, the Panamanian government has created a government including the Minister of Economy and Finance (MEF), Dulcidio De La Guardia; Minister of Trade and Industry (MITI), Arosemena Augusto Moreno; Minister of Labor and Workforce Development (Mitradel), Luis Ernesto Carles; the director of the National Bank of Panama, Rolando De Leon; and other officials, and is seeking several alternatives.
Ernesto Carles said that “as a country we are interested in seeing the functionality of businesses and ensure that people who work in Waked,companies receive their wages in a timely manner in the continuity of a worker-employer relationship “
According to Carles “what is sought is that everything returns to calm and that people e, may continue buying their products “
We are taking a census of employees, to examine the case of each. Mostly companies are not going to close. There are other companies where we are analyzing their functionality, “said the Minister
“Where jobs cannot be preserved, we are looking for sources of employment so that people can continue working,” Carles said.
He added that they are focused on being granted licenses for Waked family companies to continue to operate and has asked the US Treasury Department to indicate the conditions under which they would be willing to grant such licenses.
Eduardo Quiros, president of La Estrella and El Siglo, said they have analyzed the scope of the placement of the newspapers in the “Clinton Listand are evaluating a request for the extension of the license granted until July 6 the date on which all American citizens will no longemaintain working and trade relations with the media.
“We believe that there is a serious risk to freedom of speech and press. Neither employees, or readers have the least responsibility in all this, ” said Quiros.
The US ambassador in Panama, John Feeley said Friday May 13, that there has been progress in obtaining new licenses to allow other companies in the Waked group to continue to operate.
The licenses granted by the US Treasury Department, are in favor deBalboa Bank & Trust and Security brokerage Balboa, who are entitled (temporarily) to continue operations until 12:01 am on June 14.
Similarly, the general license in April in favor of Soho Mall is replaced by anew license indicating that every American individual who transacts with the mall, must in up to 10 days provide the Treasury Department, a detailed report with the value of transactions, and the date and duration of the activities. This business relationship has been authorized until 12:01 a.m. on July 6.
US citizens providing services to the La Estrella and El Siglo, , are allowed to continue working with these companies until 12:01 am July 6.
The Wisa Group, is dedicated to the sale of luxury cosmetics and fragrances, watches, tobacco and spirits, among other products in Panama and other countries.
