Ministry of Mines and Energy. Bogota D.C. August 15th, 2017. The Minister of Mines and Energy, German Arce Zapata, participated in a debate within the Fifth Commission of Senate and stated that the mines and energy sector requires $3.4 trillion for its 2018 budget, intended to cover the energy and gas subsidies for the Colombians with the largest needs.
"The main use of the resources assigned to the Ministry of Mines and Energy is to carry out the payment of energy subsidies for Colombians in the first, second and third levels of social stratification, as well as for the gas subsidies of families from the first, second and third social strata throughout the country," said the head of the cabinet position for mines and energy.
Minister Arce Zapata also expressed his significant concerns regarding the $1.6 trillion (-40.6%) in budget cuts for his cabinet position, which will have a direct effect on social and economic development. "This budget cut will affect investment programs intended to help the most vulnerable Colombians pay their energy and gas invoices," the Minister underlined.