Mexico’s President Andres Manuel Lopez Obrador on Thursday, June 11, backed a political ally’s proposal to merge three regulatory bodies into a single new one in a move the opposition criticized as a power grab that could jeopardize oversight, reported the New York Times.
The senate leader of Lopez Obrador’s ruling National Regeneration Movement (MORENA), Ricardo Monreal, on Wednesday presented the plan to combine energy regulator CRE, the Federal Economic Competition Commission (COFECE), which is an antitrust watchdog, and telecom regulator IFT.
“If we’re going to save money, I’m for it. Because there was a lot of waste in the creation of (regulatory) bodies,” Lopez Obrador said at a regular daily news conference.
Lopez Obrador has promised to reduce public spending to free up more resources for the poor and his flagship projects.
Full Content: New York Times
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