GEDA admin has confirmation hearing - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA admin has confirmation hearing

Posted: Updated:

by Mindy Aguon

Guam - Guam Economic Development Authority Administrator Karl Pangelinan took the hot seat this morning before lawmakers for his confirmation hearing, talking about plans to spur economic development on the island in the current sluggish economy. Lawmakers questioned whether Pangelinan supported the continuation of the Qualifying Certificate program and the nominee said he did as the government is reliant on two streams of income from tourism and the military.

He said, "I think now more than ever we need to develop another industry that third leg in the economic stool and the QC is really the only investment tool, I believe, right now.  Do I think it could take some looking at? Absolutely.  Actually I believe there was a moratorium in 2008 whereby a commission was formed, a task force and there were some recommendations that were made."

Pangelinan says he will work with the board to strengthen the QC program and review those recommendations to see how the program can be improved. As for the Administration's plans to borrow $336 million later this year, Pangelinan admitted that he was initially wary of the idea of the government borrowing to its limit but says he now feels the idea will be beneficial to the island and the economy.

  • NEWS HEADLINESMore>>

  • Pair Arrested After Police Raid Harmon Home

    Pair Arrested After Police Raid Harmon Home

    Guam police received a tip about illegal drug activity at a home in Harmon before they placed two people under arrest. Fernando Cruz Flores, 59, and Sandy Marie Duran, 33, are charged with illegal possession of a schedule II controlled substance, drug posMore >>
    Guam police received a tip about illegal drug activity at a home in Harmon before they placed two people under arrest. Fernando Cruz Flores, 59, and Sandy Marie Duran, 33, are charged with illegal possession of a schedule II controlled substance, drug posMore >>
  • Federal charges brought against Vincent Lujan for drugs

    Federal charges brought against Vincent Lujan for drugs

    Unsealed in the District Court of Guam this week. Vincent Q. Lujan will face a federal jury later this year on drug charges. According to court documents, from July 2017 to the time of the indictment, Lujan allegedly conspired with others to distribute 50More >>
    Unsealed in the District Court of Guam this week. Vincent Q. Lujan will face a federal jury later this year on drug charges. According to court documents, from July 2017 to the time of the indictment, Lujan allegedly conspired with others to distribute 50More >>
  • Oversight held for Rev & Tax

    Oversight held for Rev & Tax

    Senators held an oversight hearing with the Department of Revenue & Taxation to talk about a variety of issues from collection to compliance. Director John Camacho was also asked about Section 30 funds. These are the taxes paid by federal civilian and milMore >>
    Senators held an oversight hearing with the Department of Revenue & Taxation to talk about a variety of issues from collection to compliance. Director John Camacho was also asked about Section 30 funds. These are the taxes paid by federal civilian and milMore >>
Powered by Frankly