Honduras’ National Congress has approved a budget proposal of HNL3.322 billion (USD162.924 million) for 2013 to keep state-owned telco Hondutel afloat, La Prensa reports. According to the article, the deputy of the National Congress, Rodolfo Irias Navas, stated that the current situation at Hondutel cannot continue, and argued that foreign companies should be allowed to invest in the company. However, the executive added that the measures approved by the National Congress only ‘lengthen the life of a dying man.’
As previously reported by TeleGeography’s CommsUpdate, the budget of the struggling telco had been in deliberation by Congress since June 2013. Honduran Minister of Finance Cerrato Wilfredo Rodriguez announced that Hondutel’s Controlling Commission, which includes former Ministry of Finance officer Rigoberto Romero, former director of Honduras’ Directorate for Competitiveness and Innovation Eduardo Pavon Cambar and the president of workers’ union Orlando Mejia, had completed a review of a new bailout plan in August 2013.