26 November 2006

The “interest” belonging to the Italians

Palenzona, President of the Associazione italiana società concessionaria autostrade e trafori (Aiscat) {Italian Association of motorway and tunnel companies}, explains in a language that is probably his own that:

“Di Pietro tells lies” and that “It’s not true that Autostrade has not made 2,500,000,000 Euro of investments but it is the system that has not permitted the investments to be made.” A contradictory analysis that in effect admits that the investments have not been made. Meanwhile, the motorway tariffs have gone up and generous dividends have been distributed to the shareholders.
I have asked for the investments not made to be made available to the Ministry. I have asked for the interest that these sums have gathered, interest that must not be engulfed by the concessionary companies, to be destined to the infrastructure work as it is interest related to capital that is the property of the State.
This position has been rejected by the concessionary companies.
They have taken their case against the interest that has accrued to Lazio’s TAR {Tribunale Amministrativo Regionale =Regional Administrative Tribunal} Just yesterday, the TAR rejected their suspending request because of the lack of the basic prerequisites.
In fact the TAR has decided that the investments not carried out must be managed separately in the Balance Sheet.
I would never be so rash to say that Palenzona tells lies. Perhaps his outburst, as well as being an interested opinion, was just a hasty one.

Posted by Antonio Di Pietro in Competitiveness of the economic system