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Autonomy allows us to influence markets that impact families: Cofece – El Sol de México

The Federal Economic Competition Commission (Cofece) assured that his autonomy has allowed it to influence the markets that most impact the daily lives of families, especially those in vulnerable situations, such as food, transportation, medicines, financial, health services and fuelamong others.

The above helps to ensure an even floor in sectors that are key to the pockets of Mexicans, with benefits to the population equivalent, on average, to 7.5 million pesos per day, that is, close to 14 billion pesos from 2018 to the date, stated the antitrust body in a posture.

The document, published three days after the President Andrés Manuel López Obrador sent 20 constitutional reform initiatives to the Congressincluding one for extinguish autonomous organismspoints out that economic competition policy is an indispensable tool for the population to improve their living conditions through access to better services, goods and products.

“The constitutional reform proposal presented by the Federal Executive must be analyzed and discussed by the Congress of the Union in this context. To this end, it is important to consider all the evidence available and thus be able to determine the institutional design that allows the greatest benefits to Mexicans,” said Cofece.

He recalled that in its 10 years of existence it has investigated corporate conduct in the markets that impact the most on homes; sanctioned with historic fines big enterprises and managers who with surcharges directly affected consumers.

He highlighted that only in 2022 did he impose fines for four thousand 859 million pesos, a figure 23 times greater than the amount of sanctions registered in 2011, when it lacked said autonomy.

“The existence of an autonomous competition authority makes it possible to expand the impact of competition policy for the benefit of society, generating the necessary conditions for it to exercise greater powers and eliminate monopolistic practices in our country,” the organization highlighted.

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