Photo: Mexico's PRI Making Progress on Tax, Energy Reforms
The assembly of the governing Institutional Revolutionary Party, or PRI, is making progress in opening the way for energy and tax reforms, eliminating restrictions on imposing the value-added tax (VAT) on foods and medicines, and clearing the way for more private investment in state-owned oil giant Petroleos Mexicanos, or Pemex, party officials said.
The so-called “padlocks” in the party’s basic documents, which required legislators to reject the opening of Pemex to private investment and prevented them from allowing the VAT to be imposed on food products and medicines, have been removed.
Delegates to the PRI’s 21st National Assembly removed the restrictions on Saturday, opening the way for members of Congress to vote freely when necessary.
The changes in PRI bylaws will be voted on by the full National Assembly on Sunday.
Delegates also agreed to make a push for energy reforms to support Pemex’s modernization, party leaders said.
“We are proposing energy reforms that take into account an opening in areas in which we do not have the capacity to do it,” Congressman Marco Bernal, chairman of the energy committee of the lower house of Congress, said.