Business leaders call for caution with pension money

Opinions from the business sector regarding President Leonel Fernandez’ speech on Monday are as varied as the topics touched in the discourse. 

Generally speaking, the speech by President Fernandez was received with delight by the National Private Enterprise Council (Conep), the Industrial Association of the Dominican Republic (AIRD), the National Association of Young Entrepreneurs (ANJE) and by the Santiago Chamber of Commerce and Industry, but the greatest worry is over the use of the money from the pension funds. 

The Conep and the group of businessmen belonging to the Santiago Chamber of Commerce and Industry warned the government that the use of monies from the pension funds must be done with caution. 

Lisandro Macarrulla, the Conep president, believes that the pension funds are the genuine source for financing the country’s development and for guaranteeing the future of its citizens who are no longer productive. 

He said he felt that the use of the funds should be done in an effective, transparent and impacting manner that will break the vicious circle of poverty that affects the country. 

Manuel Diez Cabral, the head of the AIRD, asked that the government policies to reduce the current accounts deficit focus on exports.  The Santiago Chamber of Commerce and Industry, represented by its president, Oliverio Espaillat, also called for caution in the handling of pension fund money. 

Espaillat gave reporters a document in which the Santiago Chamber says that the use of these funds cannot be determined by a law that puts itself above the tripartite system that is responsible for the operation of the funds. 

Generally speaking, the speech was well received, after the businessmen pointed out that President Leonel Fernandez has spoken clearly to the country regarding the problems that concern the economy in the face of the world financial crisis. 

In some cases, there are sectors that asked that the funds go to their interests, such as the exporters, who, through their president Ricardo Koenig, asked that the sector be reinforces so that more jobs are not lost and hard currency continues to diminish. 

Diario Libre