The Government extended the expiration date of the oil trust. Through the Resolution 1626/2023, set the deadline for December 31, 2023.
This trust was created by the Government to stop the rise in the price of oil. The measure sought to sustain in the domestic market a affordable price of oils.
Based on the new resolution, the Ministry of Economy extended the program until the end of the year. In addition, it applied an increase in resources of 15 million dollars for the coming months.
“The implementation of the mechanism “proved to be adequate for meeting the proposed objectives,” the Government argued in the resolution. Furthermore, he stated that he proposes price stability in the domestic oil market.
For the extension, the Government indicated that it is appropriate and it is convenient to adjust the amount of the contribution and the monthly volume.
In this sense, the new agreement proposes a duration period until December 31, 2023. “If there are Contributions of Funds and Compensations pending and payable under the Trust, the Trust will continue in force until full compliance and cancellation thereof, exclusively in relation to said contributions and pending compensations. ”, highlights the trust.
Furthermore, the amount allocated went from 120 million dollars to 135 million dollars. “In order to avoid exceeding the contribution amount, a monthly evaluation mechanism will be established,” the regulations concluded.