Categories: Stocks / ETFs

Mexican senate passes proposal to abolish autonomous bodies By Reuters

MEXICO CITY (Reuters) -Mexico’s Senate on Thursday passed a measure to abolish the autonomous bodies that regulate some economic sectors and ensure government transparency, a reform that has sparked outcry from the opposition and industry.

Lawmakers in the upper chamber voted on the proposal’s general terms with 86 in favor and 42 against, with nearly the same tally coming in for the bill’s particular terms.

It had passed in the lower house last week.

The reform proposes scrapping autonomous agencies such as antitrust watchdog Cofece, telecoms regulator IFT, energy regulator CRE, hydrocarbon regulator CNH and public information and data protection office INAI.

Their functions would be taken over by other government bodies such as the official statistics office, the electoral authority and government ministries.

The head of the Senate constitutional committee, Oscar Canton of the ruling Morena party, said that the proposal represents the administration’s commitment to an austere, efficient government focused on the needs of its people.

The measure is among the constitutional reforms presented in February by former President Andres Manuel Lopez Obrador and backed by current President Claudia Sheinbaum, aimed at cutting public spending by centralizing the state apparatus.

Opposition lawmakers and analysts, however, allege that the reform threatens democracy and that it will impede accountability against government wrongdoings.

Morena and their allies “are looking for total opacity, the elimination of any counterweight to the power they covet,” opposition senator Agustin Dorantes said in the session.



Source link

admin2

Share
Published by
admin2

Recent Posts

Air Canada announces its first lie-flat seats on new aircraft – National

Air Canada has unveiled lie-flat seats on a single-aisle aircraft, a first both for the…

42 minutes ago

Resilience Amid Record Sentiment Lows

Last week’s economic data was defined by conflicting signals from the consumer. While retail figures…

3 hours ago

Lebanon Latest: Israel’s deadly attacks amid ceasefire breaches

Israeli airstrikes hit southern Lebanon as ceasefire falters, killing at least 14 and forcing new…

3 hours ago

Bitcoin Is Nearing STH Breakeven Zone As Exchange Sell Pressure Drops $14.7B Since October – Here Is The Setup

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin is…

4 hours ago

Trump says ballroom is needed after correspondents’ dinner shooting – National

In the aftermath of a shooting at the White House Correspondents’ Dinner, U.S. President Donald…

4 hours ago

A major housing development is in the works east of Toronto, but some are crying foul

The City of Pickering is set to vote next month on a secondary housing development…

7 hours ago