The measure had been advanced on different occasions by Guzmán and work was done in recent weeks with the Central Bank, officials from the Ministry of Energy and businessmen. Last Friday, in fact, there was a meeting between the minister and secretary Darío Martínez with directors of the 10 main firms in the sector to discuss the details of the measure. On Saturday the same was done with trade unionists and provincial officials.
Measure
The text will establish a reference baseline from which the increase in production will be measured. It could be the accumulated production of 2021, but also of the last 12 months, from April 2021 to March 2022, according to the Econojournal site. It still remains to define the percentage of incremental oil on which foreign currency can be freely accessed.
In the project of Law that entered Congress in the last week, and which was signed by Patagonian legislators, access to dollars was enabled on an aliquot base of 20% of production. According to Econojournal, the decree that is being drafted could be more generous and authorize access to the MULC on a higher percentage of incremental production.
In the case of natural gas, the production committed in the Gas.Ar Plan will be taken as the baseline. Above that curve, an aliquot will be fixed on which the producers will be able to have free access to the equivalent currencies.
With this relaxation of the stocks, the aim is to encourage investments with new income of dollars from abroad, especially from multinationals, and that the capital applied to production is not limited to the flow of existing businesses in the country.
Source: Ambito
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