OMSA works on its transition to become a public company

The Oficina Metropolitana de Servicios de Autobuses (OMSA), in the process of becoming a public company called Operadora Metropolitana de Servicios de Autobuses S.A. (OMSA), is working on the creation of the legal basis that will govern the company once the transition is officialized.

Working together with advisors and technicians of the Ministry of Public Administration (MAP) and the Legal Consultancy of the Executive Power, OMSA is in the process of registration and formalization before the Chamber of Commerce of the DR.

Through a press release, it was informed that they are also working on the proposals for the elaboration of the internal regulations that will prevail in the new public company. Likewise, the process of payment of indemnities to the public servants of the current OMSA has already begun.

OMSA Reform

Article 356 of Law 63-17, on transit, transport and road safety, orders the reform of the OMSA and it is for this reason that on 25 April last, President Abinader issued Decree 167-23, which establishes the criteria for the transformation of the Oficina Metropolitana de Servicios de Autobuses (OMSA) into a public company under the name of Operadora Metropolitana de Servicios de Autobuses (OMSA).

The presidential decree establishes that, once the reform is completed, the OMSA will be attached to the Ministry of the Presidency.

The reform also states that, as from its conformation as a public company, the general director of the OMSA will become executive vice-president and will act as its general administrator; this executive vice-president will be part of a Board of Directors, which will be presided by the Minister of the Presidency and integrated by the Ministers of Finance and Public Works, as well as a general secretary of the transportation entity.

With the reform and in accordance with Law 479-08 General Law of Commercial Companies and Individual Enterprises, OMSA will have legal status, its own assets and the capacity to contract commercial and contractual obligations, in accordance with its own management and control mechanism.

The authorities indicate that they are working on the process for the public company to be officially established in the course of 2024.

Source: Presidencia.gob.do

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Dominican Republic Live Editor

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