Costa Rica News – More good news for those people with vehicles in Costa Rica. When they do increases in cost of living items in Costa Rica they go all out don’t they? But do they have a legitimate claim?
Riteve asked the Regulatory Authority for Public Services (ARESEP) for a rate increase for technical reviews that would change the cost from ¢ 9,000 (about $18) to ¢ 30,000 (about $60)for a light car.
As you can see, this is an increase of 202 percent. The rate for trucks would be raised 209 percent. Aresep will be examining the request in upcoming days. Traffic Law indicates that rates must be set between several companies that provide the service.
Riteve justifies the harsh increase by pointing out that all rate increases requested in the last decade were rejected by ARESEP. This Spanish firm has been providing technical inspections for 13 years, 10 of them at the exact same rates, although operating costs have risen.
If approved, the adjustment will come into effect in January. If not approved, we can trust that Riteve will go to the International Center for Settlement of Investment Disputes once again.
The company has five complaints against Costa Rica, totaling $503 million.