The Panama Canal, one of the main sources of income of the country must deal with a labor cost of $ 569 million this fiscal year, an amount that represents 55% of the total expenses of the institution.
The amount was calculated in the budget of the Panama Canal Authority (ACP), approved by the National Assembly for a total of $ 2 000 630 million for the fiscal year beginning October 1, 2015 and ends on September 30 .
These figures reflect an increase of $ 214.8 million compared to the amended budget of the previous year, closing 2000 at $ 415 million.
Last year, the institution provided the State thousand and $ 43 million budgeted for this thousand 60 million dollars.
Total expenses for the 2016 Channel totaling $ 1 037 million.
This amount includes $ 569 million that are destined to labor costs for 10,000 workers, and the remaining $ 468 million is targeted to purchase parts, fuel and maintenance of the waterway.
The main source of Canal revenues are the tolls ($ 2000 10 million), followed by revenues from services related to the transit ($ 433.5 million), sale of electricity ($ 127.1 million), water ($ 28.9 million), miscellaneous ( $ 19.6 million) and interest income ($ 10.6 million).
Canal revenues for 2016, in addition to operating expenses, cover contributions to the State, and provision for regular investment programs, enlargement and inventory.
Among the $ 569 million in labor expenses for this fiscal year, $ 502 million correspond to payment of wages and $ 67 million are for performance tasks representing the workers share employers, social security, educational insurance and payment of income tax, among others. Compared with total revenues of the Canal, spending payroll and benefits accounting for 21.6%.
Versus the previous fiscal year, labor costs have Canal 2016 increased $ 23 million. In the budget this year no payment adjustment is not included in the spreadsheet by negotiating collective agreements with employees.
In case any increase in wage applicable for this fiscal year is approved, the administration must submit a credit application to the National Assembly extraordinary.
At this time the administration negotiates the collective agreement with the various organized groups of workers canaleros.
This work expense for 2017 may grow based on adjustments that are approved in collective agreements and that the administration estimated at more than $ 300 million for the four-year life of the agreements. However, the leadership of some of the bargaining units have submitted aspirations that exceed up to five times that amount.
In total expenditures not included those for financing and investment that has the Canal.
The 10,000 workers distributed Canal in bargaining units, and the largest of them is not affiliated professionals to more than 81% of employees.
In other bargaining units are practical (278 employees), fire (78) and tugboat captains (232), negotiating collective agreements separately.
With the start of operations of the third set of locks, scheduled for the second quarter of 2016 alone it will require an additional 300 people to support staff and existing equipment.
According to the ACP, the operation of the new locks not go into what is known as an operation that requires massive workforce.
As part of the process, the workers themselves are incorporated Canal after going through a training program to develop the skills required to meet future challenges.
“These programs cover the needs in the maritime, technical and vocational areas,” the ACP.
That staff has received training in the Training Center; and for the operation of the new locks it is planned to charter a vessel that will test new complex operations once it is delivered by the contractor Grupo Unidos por el Canal.
Investment in human capital, which is the main resource of the Panama Canal is part of the ongoing management of the company and is subject to the higher valuation and more these days, when Panama has a big challenge ahead, as is the management of the new locks, the administration reported.
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