“Mo’ Money”: AMLO’s political party goes after nine trusts and funds

The total of trusts that MORENA is looking for could mean 150 billion pesos in addition to Lopez Obrador’s pocket.

MEXICO CITY – Last Wednesday, September 9, Mario Delgado Carrillo, Morena’s coordinator in the Chamber of Deputies, presented an initiative that complements another one from last May, with which he seeks to disappear or reduce nine other funds and trusts.

“We take the liberty of proposing the reform of various provisions provided for in the federal legislation to order the operation of some trusts that must subsist, proceed to the extinction of other instruments of a fiduciary nature,” the party’s deputies stated in the initiative published in the Parliamentary Gazette.

With this, the trusts that will be subject to revision are 55 and could mean an additional 150,000 million pesos for the 2021 Expenditure Budget.
1. Conacyt-Secretariat of Energy-Hydrocarbons-Secretariat of Energy-Energy Sustainability Sector Fund. – It is proposed that this Fund be extinguished so that the transfers from the Mexican Petroleum Fund will only go to the scientific research and technological development fund of institutes that research this area.

2. Fund for the Promotion and Support of Scientific and Technological Research in Biosafety and Biotechnology (Conacyt) – In this matter, it is proposed to suppress Article 31 of the Law on Biosafety of Genetically Modified Organisms, to extinguish the Fund for the Promotion and Support of Scientific and Technological Research in Biosafety and Biotechnology.

3. Climate Change Fund. – It is proposed that this Fund exists, but under a different mechanism than that of the trust agreement, leaving the administration and operation in charge of the corresponding Secretariat.

4. Fund for Aid, Assistance, and Integral Reparation. – The establishment of a Fund is foreseen to provide the necessary resources for the aid, assistance, and integral reparation of the victims of crimes of the federal order and the victims of human rights violations committed by federal authorities.

It is proposed that all the Executive Commission’s obligations should be covered by a Fund, which should be administered and operated by the Commission through instruments other than the trust agreement. The Executive Committee shall administer the Fund.

5. Trust that Administers the Fund for the Strengthening of Savings and Loan Associations and Support to their Savers.- The present initiative proposes to rescind the Law that creates the Trust that will administer the Fund for the Strengthening of Savings and Loan Associations and Support to their Savers, to extinguish Fipago and empower the Ministry of Finance and Public Credit to directly manage the operation of such resources generating certainty to the savers of the defrauded companies.

6. Fideicomiso Fondo de Salud para el Bienestar –  (Trust and fund for Health and Wellbeing) Within the framework of the new coronavirus pandemic, it is proposed that the trustee of the Health Fund for Welfare concentrates in the Treasury of the Federation a certain amount of money from the assets of said Trust, in terms of the Federal Revenue Law for the Fiscal Year 2020, so that said resources are destined to the purposes determined by the Ministry of Health in matters of health.

7. Public Trust for the Administration and Payment of the Metropolitan Fund – It is considered that it should be maintained, strengthened, and constituted as an instrument to promote the adequate planning of urban and regional development, the improvement of public transportation, and the implementation of active mobility, the organization of the territory, as well as the consolidation and optimal use of the competitive advantages for urban and economic development.

In this sense, it is proposed that the resources approved in the Federation’s 2020 Expenditure Budget be used to finance priority infrastructure programs determined by a committee to be formed with representatives of the Ministry of Finance and Public Credit, the Ministry of Agrarian, Territorial, and Urban Development, and a representative of the Ministry of the Environment and Natural Resources.

8. Fund for the Development of Mining Production Zones (Fondo Minero). – A term is proposed for the Ministry of Finance and Public Credit and the Welfare Bank to extinguish the Public Trust for Administration and Payment called ‘Fund for the Development of Mining Production Zones.’

9. Trust to Promote Access to Finance for MSMEs and Entrepreneurs. – In this case, it is proposed to add a transitory article to the draft decree to set a term for the extinction of the mentioned Trust in terms of the provisions of the Federal Law on Budget and Tax Liability.

Once again, MORENA is trying to disarticulate Mexico.