Pdvsa to pay suppliers after fiscal contributions
Fiscal contributions for FY2012 amount to USD 18.6 billion to date
Sources from the oil sector have informed that Pdvsa will repay debt and make payments to suppliers once it has made its fiscal contributions for fiscal year 2012, which, to date, amount to USD 18.6 billion, even thought they were initially estimated at USD 15.7 billion in the country's budget.
Although Pdvsa has not disclosed any official information about the amount of its liabilities, debts to goods and service suppliers many of which are related to core activities have continued growing, sources from the oil sector informed.
Payments in dribs and drabs
By the end of 2011, Pdvsa's debts to providers had grown 22% as they jumped from USD 10.13 billion in 2010 to USD 12.37 billion 2011.
Regarding FY2012, oil industry sources explained that "Pdvsa's debt payments have been small, and liabilities are large." They added that efforts have been made to find a payment mechanism different from cash.
Translated by Jhean Cabrera
María Fernanda Astudillo is a store analyst for Alimentos Polar working at the company's facilities in La Yaguara. At only 23 years of age, she has made a career in that company where she has worked for the last six years. Now, besides her responsibilities, which include overseeing shipping/receiving and warehousing of goods, she is taking part in the roundtable discussions among the other companies operating in the La Yaguara industrial park, the Government and the workers exploring possible ways of coping with the order to expropriate the land.