Summary.
The bill proposes to repeal Law 15 of February 17, 1998, which approved Concession Contract No. 70 of January 22, 1998. That contract granted Panama Canal Railway Company the concession to operate, administer, and manage the Panama Canal Railway. Article 1 connects the proposed repeal to an extension of the concession through 2049, which it describes as unilateral and approved without compliance with constitutional and legal formalities. The proposed repeal concerns the law that approved the concession contract.
Article 2 assigns the Executive Branch (Órgano Ejecutivo) responsibility for initiating a new international public tender to grant a concession for operation of the Panama Canal Railway. It requires the procedure to comply with the Political Constitution of the Republic of Panama (Constitución Política de la República de Panamá) and applicable laws. It also sets the objective of securing the greatest economic and social benefit for the Panamanian State. The provision places the selection of a new concessionaire within a tender open to international participants and governed by the relevant constitutional and legal requirements.
Article 3 orders an immediate audit of the current terms of the railway operations carried out by Panama Canal Railway Company. Experts in transport, economics, and constitutional law must participate, at a minimum. They will be responsible for submitting a detailed report within the following six (6) months counted from approval of the proposed law. The report will be public and will serve as a reference for defining the terms of the new public tender. The bill thereby connects review of existing operating arrangements with preparation of the future tender, seeking improved terms and greater benefits for the Panamanian State.
Under Article 4, the contract resulting from the new tender for the railway operating concession, together with the approval of its corresponding law, must be submitted to the National Assembly (Asamblea Nacional). That approval must observe the formalities established by the Political Constitution of the Republic of Panama and applicable laws. Article 5 provides that the proposed law would enter into force on the day following its promulgation. In sequence, the text provides for repeal of the earlier approving law, a new tender, an audit to inform that tender, and legislative approval of the resulting contract.
The public bodies concerned are the Executive Branch and the National Assembly. The bill’s subject matter could interest or affect railway operators, bidders for concessions, specialists in transport, economics, and constitutional law, and sectors connected with rail transport and intermodal terminals in Panama.
What it proposes.
- Repeal of a law approving a railway concession.
- International public tender for railway operations.
- Audit of the concession and legislative approval of a new contract.
Who it would affect.
- Executive Branch.
- Panama Canal Railway Company.
- Participants in the new international public tender.
- Operators of the Panama Canal Railway.
Key points.
- Proposes to repeal the law that approved Concession Contract No. 70 of January 22, 1998.Art. 1
- Directs the Executive Branch to initiate an international public tender for the concession to operate the Panama Canal Railway.Art. 2
- Orders an immediate audit of the current terms of operations carried out by Panama Canal Railway Company.Art. 3
- Requires participation by experts in transport, economics, and constitutional law, and a detailed report within the following six (6) months counted from approval of the proposed law.Art. 3
- Provides that the audit report will be public and serve as a reference for the new tender.Art. 3
- Requires the new contract and approval of its corresponding law to be submitted to the National Assembly in accordance with constitutional and legal formalities.Art. 4
- Sets entry into force for the day following promulgation.Art. 5