The Government has decided to close a fund that was intended for sheep farming in the country. This is the Trust Fund for the Recovery of Sheep Farming (FRAO).
The Government decided to close a fund that was intended for the sheep activity in the country, which handled about $3 billion a year. This is the Trust Fund for the Recovery of Sheep Farming (FRAO)which the Government said operated “without any kind of transparency.”
The closure of trusts was one of the first adjustment measures of Javier Milei’s government, arguing that they are mechanisms to manage billions of pesos in a discretionary and uncontrolled manner.
The measure was formalized in the Official bulletin through resolution 650 of the Ministry of Economy of Luis Caputo. The resolution mentions that “the conditions” that motivated the creation of the FRAO “are not given in the current context.” The Ministry of Economy added in the recitals of the norm: “This ministry, in accordance with the public policies that are being implemented, considers that the continuity of the aforementioned fund is inconvenient in this context.”
“It has been decided to close the Trust Fund for the Recovery of Sheep Farming (FRAO). This fund managed 3 billion pesos per year without any kind of transparency. Since its creation (more than 20 years ago) no improvements in the sector have been verified either,” the presidential spokesman had anticipated. Adorni Manual in your X account.
The trust was created by Law 25,422 on sheep farming in 2001. Article 15 of the trust created the FRAO with resources from the annual budget allocations of the national Treasury, donations, and contributions from international and provincial organizations and producers.
The law stipulated benefits such as “refundable and/or non-refundable financial support for the execution of the plan or program, varying by area, size of the farm, type of plan or program and proposed activity.” It also provided full or partial financing for the formulation of the work plan or investment project and the basic studies necessary for its justification.
Source: Ambito
