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 that firms that increase their production from a reference base will be able to access a certain percentage of foreign exchange over that increase to, for example, import machinery, cancel debts or repatriate funds. The reference base could be the accumulated production of 2021, but also of the last 12 months, from April 2021 to March 2022, according to the Econojournal portal.
In the bill 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. It is something that the big oil companies demanded from officials to increase their investments.
The measure, according to official sources, will include incentives for the incorporation of machinery and hiring. In addition, there could be announcements regarding the construction of plants necessary to export liquefied natural gas (LNG).
After the agreement with the International Monetary Fund, the energy front is now one of the focuses of attention of the Guzmán administration with which it aims to make an export leap and unlock the restrictions on the external front. To this was added in the last hours the policy of price agreements, after adding the Secretary of Commerce to the orbit of his portfolio, which will be reinforced with the departure of Roberto Feletti and his replacement by a man of his kidney , William Hang.
Source: Ambito
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