LA PLATA RESERVOIR NEXT FOR RATIONING
Besides the recent imposition of rationing for water customers served by
the Carraízo reservoir, customers served by Lake La Plata may also be
seeing rationing within two weeks, as reported this morning by El Nuevo
Dia. 70,000 water customers will likelybe affected by a rationing plan
starting in June, due to low lake levels. La Plata sat yesterday at 44.26
meters, seven meters below its optimal level, and 75-80 gallons leave
the reservoir daily. La Plata sits between the towns of Naranjito, Toa Alta
and Bayamón. Water rationing in the San Juan area begins today for Zone
A, while Zone B will see its first rationing day on Thursday.
MEDICAL POT PRODUCER COMES TO PR
From Caribbean Business:
Growblox Sciences Inc., a biopharmaceutical research and development
company with technologies in plant biology and cultivation designed to
produce medicinal cannabis, announced Wednesday it has established
Growblox Sciences Puerto Rico LLC (GBS PR), a majority-owned
subsidiary domiciled in Puerto Rico. "As widely reported, Puerto Rico
Gov. Alejandro García Padilla recently signed an executive order autho-
rizing the production of medical cannabis. We are very excited by the
timing of this announcement as it coincides with our continuing pre-
sence in Puerto Rico and our commitment to realizing significant fun-
damental growth this fiscal year," Growblox CEO & Chairman Craig
Ellins said.
GARCIA PADILLA PUSHES FOR 13.25% VAT
From News Is My Business:
Saying it “is the best option” to solve the government’s fiscal problems,
Gov. Alejandro García-Padilla re-introduced Tuesday a proposal to es-
tablish a value added tax system he said would generate more than $2.5
billion in net revenue for the cash-strapped administration. In a meeting
with members of the Puerto Rican media, García-Padilla appealed to
lawmakers and the general population to support the proposal, which he
said is the best option over the alternatives of increasing the sales and use
tax or going back to applying an excise tax on goods and services at the
points of entry.
GOV'T COULD BE BROKE BY SEPTEMBER
From The San Juan Daily Star:
An analysis conducted by the fi rm Conway MacKenzie Inc. on the
Puerto Rico’s budget concluded that the government may run out of
cash in September unless it obtains fi nancing and starts fiscal year
2016 with a deficit of $2.4 billion. The commonwealth is evaluating
the impact of certain short-term administrative measures to deal with
the projected liquidity shortfall. Conway’s analysis indicates, however,
that in the absence of new tax and revenue anticipation notes (TRANs)
or other cash flow financing for fiscal year 2016, the implementation
of such measures would not be sufficient, by themselves, to avoid full
cash depletion in the Treasury’s Concentration Account by September
2015.
SPANISH FIRMS EXPLORE PUERTO RICO
From Fox News Latino:
Five Spanish companies from widely differing sectors including
culinary training and organic solvent recovery presently are loo-
king for investment opportunities in Puerto Rico. "We've decided.
We want to open a Mediterranean gastronomy school here for foreign
students who want to get their training in Spanish and learn about
this subject," Angel Eduardo, the head of international development
for the Centro de Superior de Hosteleria Mediterranea. His company
decided to open a higher education institute in Puerto Rico in 2016
and now he is seeking a site for the school in the area of Santurce,
the nerve center of San Juan, which this businessman already knows
well, given that he lived in the island's capital for a number of
years.
SOCCER: BERMUDA FACES PR IN FRIENDLY
Bermuda and Puerto Rico will gear up for their respective 2018 World
Cup second-round qualifiers by meeting in a friendly international
at the National Sports Centre here next month, officials have announ-
ced. Bermuda reached the second round by eliminating Bahamas 8-0 on
aggregate and will now face Guatemala, while Puerto Rico, who had a
first-round bye, take on Grenada.
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