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Cheap Venezuelan Fuel Slashes
Managua Bus Fare
Public transport users in
Managua will pay from now on
three cents less for the bus
ticket because City Hall will
supply buses with Venezuelan oil
at preferential prices.
The agreement achieved between
the municipal authorities and
the owners of bus cooperatives
establishes a "social tariff" of
2.50 cordobas, or .13 dollars to
the current change starting on
Thursday.
The Bus fare was of three
cordobas earlier this year
because of the bus drivers
unilateral decision that brought
about a wave of students protest
that wounded a number of people
and burnt cars.
City Hall commits itself to
supplying 900 transportation
units with cheaper oil in return
for a price reduction in force
since Thursday.
The Diesel that will be granted
to the bus cooperatives at
preferential prices of 2.20
dollars per gallon comes from
Venezuela and is imported by the
Nicaragua-Venezuela mixed
enterprise ALBA, Nicaragua Oil (ALBANIC).
The entity appeared last April
after an agreement between the
Nicaragua Municipalities
Association (AMUNIC) and the
Venezuela State Oil enterprise (PDVSA)
to obtain up to 10 million
barrels yearly.
According to the terms of the
contract the 60 percent of buy
will be paid in cash within 90
days while the rest will be paid
by 23-year credit, two years
free and one percent of
interest.
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