Varela in Colon to assess Waked jobs fallout

PRESIDENT  Juan Carlos Varela, headed for  the province of Colon to assess the impact of the measures taken by the US Treasury against  Waked companies in the city.

The area is already suffering from massive layoffs in the Free Zone, hard hit by a 25% business turndown.

Meanwhile the government is trying to persuade the US Treasury Department ri grant  special licences to some of the network businesses to continue operating.

Varela, accompanied by Minister of Commerce and Industry, Augusto Arosemena, met with the general manager of the Colon Free Zone (CFZ), Surse Pierpoint.

Varela  said he is concerned the streets of employment of more than 5,000 colonense family heads” who work for Waked  companies as well as the situation of creditors.

“We will present a report to the Cabinet in order to generate a discussion on the issue,” he said.