Sectors oppose US$543.5M of Pension Fund to spend on roads

Santo Domingo.- Thegovernment’s announced RD$25.0 billion (US$543.5 million) dip into the PensionFund to improve the national road grid is around 6.25% of Dominican workers’ assets,which surpassed RD$401.3 billion last June.

The Pension Superintendence’s(SIPEN) figures to the end of June reveal that more than RD$172.7 billion were depositedin the Central Bank, or 47.2% of the total; RD$78.9 billion (21.5%) incommercial banks, and RD$4.4 billion (1.2%) in S&Ls

Several sectors havevoiced opposition to the use of the pension fund in the various productionareas of the Dominican economy, including infrastructure.