Federal Commission on Economic Competition (Coffee), Mexico’s antitrust authority said this Thursday that it has brought benefits to the population of almost 14 billion pesos ($816 million) since 2018, in the midst of reforms by President Andrés Manuel López Obrador that seeks to eliminate it.
“Since 2018, the benefits to the population from Cofece’s actions are on average equivalent to 7.5 million pesos dailythat is, almost 14 billion pesos ($816 million),” the autonomous body said in a statement.
Cofece published this statement just days after López Obrador unveiled a package of nearly 20 constitutional reforms among Autonomic organs disappearsuch as the National Electoral Institute (INE), Cofece and energy regulators.
In this regard, the organization stated that economic competition policy is an “indispensable tool” for the population improves their living conditions through access to better services, goods and products, as recognized by the Mexican Constitution.
The institution noted that for this reason, the reform proposal presented by López Obrador should be analyzed in Congress in this context.
“It is important to consider all available evidence and thus being able to determine the institutional design this gives the Mexicans the greatest benefit,” he said.
The statement recalled that over 10 years of work Cofece investigated corporate behavior in the markets This impacts households the most, in addition to the application of “historic” penalties to large companies and managers whose premiums directly affect consumers.
He also said his “technical and independent” actions had alerted authorities and lawmakers. about the strengths and risks that, from a competitive point of view, They include administrative decisions or rules.
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“These and other results show that the existence of an autonomous antimonopoly authority allows you to expand the impact of competition policy for the benefit of society“By creating the necessary conditions so that he can exercise greater powers and eliminate monopolistic practices in our country,” he explained.
And he asked to open the dialogue to all voices so that contribute to the discussion on a constitutional reform proposal regarding competition policy. (EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
