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Industrials call on Pemex to pay debts

By The News · 11 of February 2016 12:20:09
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Concamin says it seeks close relation with new director.

The News

MEXICO CITY – The Confederation of Industrial Chambers (Concamin) called to form a working group to evaluate the options available to settle the debts of Petróleos Mexicanos (Pemex), which amount to $7 billion regarding the industrial sector, so that it can maintain strategic investments and ensure the technical, financial and productive feasibility of a company vital for Mexico’s energy modernization. Concamin President Manuel Herrera Vega said that they were seeking to develop a close relationship with José Antonio González Anaya, the new head of Pemex, since several sectors of the industry have entered a difficult situation as some of them are owed by Pemex since up to six months ago and their situation is already “critical.” “Of course, what we want is to approach González Anaya and explore the mechanisms that can be created so that the thing that really worries us, Pemex’s debts to our industry, can be settled as there are many companies who currently face a dire situation. One example is the maritime industry, who acts as provider for Pemex, and which has companies that are in very bad conditions,” said Herrera Vega. At a news conference, Herrera Vega said that González Anaya has experience in terms of financial management, so he expects a turn for the better in the issue. He also called on the federal government to implement the budget cut in current expenditure and not in public investment, because the latter is of crucial importance for the growth of the national economy. On the issue of the dollar’s price, which has exceeded 19 pesos per unit, Herrera Vega said that the impact is already visible in the cost of production, which has increased by as much as 16 percent in some branches of industry, but that the companies have managed to not transfer these costs onto the final prices of products.