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ECONOMY | 02-02-2024 15:16

Ruling party submits new draft of Omnibus Law, cutting privatisations and powers

New versions contains major modifications from the political forces negotiating with the ruling party for the approval.

In the context of the second day to debate the Omnibus Law in the Chamber of Deputies, a “draft” of the bill presented by the ruling party has finally turned up. Even though it is not the final text, the document in question introduces a series of modifications and also contains additions from all sectors which required a modification of the original bill, as part of the negotiations in the house. Among the most important changes, the delegated powers are diminished because the number of emergencies that enable them are reduced to six, excluding the fiscal part, in tune with Economy minister Luis Caputo’s announcements last Friday.

The session in Congress had been developed with strong criticism by the opposition, especially Unión por la Patria deputies, because the text of the law had not been made available to them.

Given that, a rough version of the draft of the Law of Bases was disclosed on Thursday, which arrived in Parliament after Karina Milei and Manuel Adorni went to Congress to dialogue with Martin Menem. This meeting was also attended by Cristian Ritondo, on behalf of PRO and other leaders close to La Libertad Avanza such as Eduardo “Lule” Menem, cousin of the president of the Lower House.

“A public emergency in economic, financial, security, tariff, energy and administrative matters until December 31, 2024”, reads article 3 of the draft’s text.

Among the most substantial changes, the privatisation scheme was modified, now broken down into annexes. The initiative still does not convince the opposition and negotiations continue about it.

Thus, the state-run companies listed there are declared “subject to privatisation, to the extent that the companies listed in annex II “may only be privatised partially, the State having to maintain a majority interest in the capital or majority in corporate decisions”.

In the new scheme, the companies subject to partial privatisation are:

BANCO DE LA NACION ARGENTINA

NUCLEOELÉCTRICA ARGENTINA S.A.

EMPRESA ARGENTINA DE SOLUCIONES SATELITALES S.A.

The following is the list of companies to be privatised wholly.

Annex I – State-run companies subject to privatisation:

ADMINISTRACIÓN GENERAL DE PUERTOS S.E.

AGUA Y SANEAMIENTOS ARGENTINOS S.A.

Aerolíneas Argentinas

Correo Argentino

YCRT

Construcción de Viviendas para la Armada Argentina S.E.

ENERGÍA ARGENTINA S.A.

INTERCARGO S.A.U.

Innovaciones Tecnológicas Agropecuarias S.A.

Playas Ferroviarias de Buenos Aires S.A.

Polo Tecnológico Constituyentes S.A.

Talleres Navales Dársena Norte S.A.C.I. y N.

Nación Bursátil S.A.

Nación Reaseguros S.A.

Nación Seguros de Retiro S.A.

Nación Servicios S.A.

Annex VIII – State-run companies subject to privatisation:

ADMINISTRACIÓN DE INFRAESTRUCTURAS FERROVIARIAS S.E.

OPERADORA FERROVIARIA S.E

BELGRANO CARGAS Y LOGÍSTICA S.A.

Ferrocarriles Argentinos S.E.

Empresa Argentina de Navegación Aérea S.E.

Desarrollo del Capital Humano Ferroviario SAPEM

CORREDORES VIALES S.A.

Annex IX - State-run companies subject to privatisation:

TELAM S.E.

EDUC.AR S.E.

Contenidos Públicos S.E.

Radio y Televisión Argentina S.E.

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Daniela Mozetic

Daniela Mozetic

Redactora de Política de Diario Perfil.

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