Image credits: Presidencia de la República
News Article

A Warning to AHMSA / Industrial Recovery This Year

By Ricardo Guzman | Thu, 08/27/2020 - 12:02

AHMSA could face legal process. After AHMSA denied yesterday that it had committed to returning US$200 million for the alleged overpricing of the Agronitrogenados plant sale to PEMEX, President López Obrador said the steel company should be penalized. “Yesterday, they said no payment will be forthcoming to repair the damage. In that case, they have to be prosecuted, penalized,” he said. The president noted that in the US, alleged criminals can get reduced sentences if they give back money involved in fraud, and that the same process could be applied in Mexico according to the law.

Industrial recovery by the end of the year. Recovery in the industrial sector has already started and production will be fully restored by the end of this year, President López Obrador said. “By the end of the year, production will be back to normal. All industrial production in the country is being reactivated,” he said and noted that in addition to plants stopping production, consumption also fell. During his daily briefing in Monterrey, the president said almost 80,000 jobs have been recovered after the economic hit from the COVID-19 pandemic.

Patent for COVID-19 ‘vaccine’. President López Obrador said his administration will “patent” the COVID-19 strategy implemented by his administration, since the decision of not increasing public debt was the right call. “In some countries, they contracted more debt, they gave more money to corporations and their economies plunged. I hope Mexico’s case will set an example. We are going to patent this ‘vaccine,’” he said.

Governor asks for refinery help. Nuevo Leon Gov. Jaime Rodríguez asked President López Obrador to review the case of the PEMEX refinery in Cadereyta. “We cannot close it but we will try to make sure it does not pollute,” he said. Rodríguez gave a document to the president detailing why the state administration in not asking for additional funds or petty requests but “to sign a pact of full collaboration” with the federal government. “We always collaborate, we have an agreement,” he said.



Click HERE for full transcript in Spanish

Ricardo Guzman Ricardo Guzman Editor