Mexican government guarantees a “free election” in the Pemex union vote

The Union of Petroleum Workers of the Mexican Republic (STPRM) has pending its renewal since 2019 (Photo: EFE)

The Mexican Government will guarantee afree choice” in the vote of the leader of the union of the state oil company Petróleos Mexicanos (Pemex) on January 31, the secretary of Labor, Luisa María Alcalde, affirmed this Friday.

“The big difference between before and now is that the workers are the ones who are going to define, the ones who are going to decide. What happened before? The government imposed on union leaders”, highlighted the Mayor during the morning press conference at the National Palace.

The Union of Petroleum Workers of the Mexican Republic (STPRM) has pending renewal since 2019, when its historic leader -since 1993-, Carlos Romero Deschamps, resigned amid investigations by the Prosecutor’s Office for corruption.

Romero Deschamps was also an active member of the Institutional Revolutionary Party (PRI), where he held high positions and he combined his trade union work with a seat as a deputy and later as a senator.

Romero Deschamps was also an active member of the Institutional Revolutionary Party (PRI), where he held high positions and combined his union work with a seat as a deputy and, later, as a senator.  (Photo: Cuartoscuro)
Romero Deschamps was also an active member of the Institutional Revolutionary Party (PRI), where he held high positions and combined his union work with a seat as a deputy and, later, as a senator. (Photo: Cuartoscuro)

The election will be held on January 31 and will be the largest election in which the new rules of the 2019 labor reform of the Government of Andrés Manuel López Obrador will be applied, which guarantees that the elections are held with a free and secret vote, and with the inspection of the Ministry of Labor to avoid any irregular practice.

The STPRM has already renewed its 36 sections throughout 2021, where, for the first time, the opposition won in four.

According to the Mayor, during the renewal process, 772 disagreements have been received, of which 4 were resolved by repeating the elections.

in the vote 89,000 workers will participate on an electronic platform developed by the Secretariat.

89,000 workers will participate in the vote on an electronic platform developed by the Secretariat.  (Photo: EFE)
89,000 workers will participate in the vote on an electronic platform developed by the Secretariat. (Photo: EFE)

The requirements for the candidates are to be an active partner and have at least 10 years of seniority in the company.

The election occurs at a time when Pemex boasts of a year-over-year reduction of 83.4% of your losses in the first 9 months of 2021.

However, the oil company remains the most indebted in the world and has several quarters with negative data.

Treasury of Mexico manages to reduce Pemex debt by USD 3,200 million

The Ministry of Finance and Public Credit (SHCP) reported this Sunday that it successfully concluded the process of refinancing the short-term debt of Petróleos Mexicanos (Pemex), with which it was possible to reduce the debt by USD 3.2 billion (Photo: Reuters )
The Ministry of Finance and Public Credit (SHCP) reported this Sunday that it successfully concluded the process of refinancing the short-term debt of Petróleos Mexicanos (Pemex), with which it was possible to reduce the debt by USD 3.2 billion (Photo: Reuters )

The Ministry of Finance and Public Credit (SHCP) reported this Sunday that it successfully concluded the process of refinancing the short-term debt of Petróleos Mexicanos (Pemex), with which it was possible to reduce the debt in USD 3,200 million and mitigating the financial pressure of the oil company, between 2024 and 2030, in USD 10,500 million.

In a statement, the federal agency announced that the operation “was considered by rating agencies and analysts as a success,” after a process that “relied on USD 3.5 billion provided by the federal government to promote the refinancing of short-term maturities.” Pemex term”.

“The refinancing of the debt was focused on exchanging bonds maturing in the short term for a new ten-year bond. Additionally, part of the refinancing resources were used to repurchase bonds that were at a lower price and with a medium-term maturity”, the SHCP added.

On December 8, the rating agency Moody’s calculated that the Mexican government had supported Pemex in 2021 with some USD 19,000 million between capital injections, tax relief and debt payments, which will allow the most indebted parastatal in the world to reduce its debt by USD 20,000 million between 2021 and 2023.

Likewise, he said, it was possible to compress the rate differential that Pemex paid over the sovereign’s rate by 50 base points, with which a reduction in the financial cost of USD 180 million per year was achieved.

With information from EFE

KEEP READING:



Reference-www.infobae.com

Leave a Reply

Your email address will not be published. Required fields are marked *