Tuesday, December 07, 2021

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President Lopez Obrador defends Mexico’s electricity reform

President Lopez Obrador defends Mexico’s electricity reform

Mexico, Oct 6 (Prensa Latina) Mexican President Andres Manuel Lopez Obrador on Wednesday defended again the implementation of an electricity reform to protect national over foreign ownership.
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As some opposition parties are organizing a front to oppose that the State holds at least 54 percent of stakes in the electricity company, the president said that this is a good opportunity for transparency. Lopez Obrador noted that the legislators who are opposing the reform presented by his executive are the same who sold their votes to former President Enrique Peña Nieto so he could pass a law to sell out valuable national resources to foreign companies.

What happened to that reform? President Lopez Obrador asked during his morning press conference, and he answered. ‘That government as well as the former one of Felipe Calderon, and also those legislators provided huge benefits to foreign firms, one of the most favored was the Spanish company Iberdrola.’

He added that the government should not be used to make private businesses like it happened during the presidency of Carlos Salinas de Gortari, Ernesto Zedillo and even Peña Nieto, who handed over the industry to foreigners.

In defending the importance of maintaining national control over key companies for the national economy, he mentioned the example of the nationalization of the electricity industry, carried out in 1960 by President Adolfo Lopez Mateo, which allowed the electrification of Mexico to its last town, thus activating the modernization of the country.

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