NATIONAL ASSEMBLY RATIFIES MEMBERS OF THE BOARD OF DIRECTORS OF THE PANAMA MARITIME AUTHORITY.
Panama, October 22
The plenary session of the National Assembly (n. of t., the Panamanian Congress) ratified the new members of the Board of Directors of the Panama Maritime Authority (PMA) that will perform its duties for a period of 5 years.
The Law Decree 7 of February 10, 1998, created an autonomous state entity called the Panama Maritime Authority. This entity has legal personality, own assets and autonomy in its internal system. It is only subject to the policies, guidelines and inspection of the Executive Government and to the oversight of the Office of the General Comptroller of the Republic.
In the article 14 of the aforementioned Law Decree, which was amended by Law 91 of November 7, 2013, a Board of Directors of the Panama Maritime Authority is established, which consists of the Minister of the Presidency, who shall preside it, and in his absence, he will be replaced by the Administrator of the PMA; the Minister for Canal Affairs, who, in his absence, will be replaced by the Administrator of the Panama Canal; and the Minister of Economy and Finances, who will be replaced in his absence by the Vice Minister of Economy or the Vice Minister of Finances. All of them are appointed for 5 years; additionally, 4 other core members and their alternates, persons of recognized authority, are appointed for a period of 7 years. They are appointed by the President of the Republic and are involved in the maritime and economic sector.
The new Board of Directors of the PMA is conformed as follows:
The Board of Directors is responsible for making the most important decisions of this government entity and overseeing that everything is done in a transparent manner, always in compliance with the original concept of providing the best service to the international maritime market.