OPINION: Whats cheap is expensive

The Panama Canal Authority (ACP), in June of this year, should have received the return of $548 million from funds that were advanced to the United for the Canal Group (GUPC), a consortium that was responsible for the construction of the third set of locks. This amount has not yet been returned, due to arbitration driven by GUPC. Another $288 million dollars, which were also part of those advances, are in litigation.

Two years after the inauguration of the Canal expansion, the ACP continues its work to avoid overpricing, but also tries to recover its funds and thus not incur additional payments to those it has already had to do. In contrast, the Government is again hiring. Like the fourth bridge over the Canal, whose opaque nature makes it very difficult for the  State to avoid waste,  and subsequent overpricing, and recovery of  Panamanian’s money becomes complicated.   The dynamics of megaprojects driven by a political agenda end up confirming the old adage that what’s cheap is expensive.  And that price is paid by everyone. Without exceptions …LA PRENSA, July 23