Mexico City. The Federal Economic Competition Commission (Cofece) requested that before the Congress of the Union discusses the opinion approved by deputies of the Constitutional Affairs Commission, there be a discussion on the importance of the entity, which underlined the benefits it has provided since its creation.
After the Commission in the lower house approved the ruling that eliminates seven of 11 autonomous bodies, including Cofece, the body in charge of economic competition urged an “inclusive deliberation of this reform prior to its vote.”
Cofece said it was willing to engage in dialogue with all parliamentary groups in the next legislature to demonstrate “the importance of preserving and strengthening economic competition policy for the benefit of Mexican consumers.”
He stressed that since its creation, Cofece has achieved “historic benefits in the well-being of households,” such as imposing “historic fines of more than 13 billion pesos on large companies that abused their power to the detriment of Mexicans.”
He highlighted that it has generated savings of at least 36 billion pesos for consumers in basic necessities such as toilet paper, diapers, LP gas, transportation, chicken, tortillas, eggs, medicines, gas and gasoline.
He noted that for every peso allocated to the Commission, 152 pesos have been generated in benefits for the consumer.
He also said that he has investigated around 40 percent of the industries in Mexico, which has generated an annual increase of 3.3 percent in job creation and growth in salaries.
“We are aware that there is still a long way to go to achieve a Mexico in which no one can abuse their economic power to the detriment of the rest of the population. For this reason, even before the administrative simplification initiative was sent to Congress, I was already working with different institutions to have more tools and achieve an economy that worked better, with a level playing field and sanctions that would deter those who wanted to stop complying with the law,” he said.
The agency said it is confident that legislators in the next term will study the model that should be adopted to promote free competition and benefit consumers.
The Court said it would continue to apply the powers of economic competition policy to the fullest extent possible to ensure the prosecution and punishment of anti-competitive practices and contribute to inclusive economic development for the benefit of the population.
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– 2024-08-25 08:02:44
