Martens: Pemex and CFE should no longer be govt. 'cash cows'.

MEXICO CITY, May 23, 2002

Energy Secretary Ernesto Martens said that companies Petr?leos de M?xico (Pemex) and the Federal Electricity Commission (CFE) are the government's "cash cows" since they are major suppliers of fiscal resources, a situation that has caused the energy sector to suffer slow growth and maintenance problems. Martens said that the companies must evolve from "government" entities to "state" companies. The official said that he would push for a change in the fiscal structure of Pemex and the CFE and the creation of an independent administration. Martens said the federal government would pressure the Senate to pass reforms to the Retirement Saving System (SAR) to allow pension funds administrators (Afores) to invest in energy projects. He said Congress would surely convoke an extraordinary session "and we expect [the agenda] will include the electricity reform."

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  SUBJECT CODE:     Pem 

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