What is AMLO's electrical reform?
4:23
(Reuters) -
Mexico's ruling party delayed the debate on a controversial constitutional reform that seeks to boost state control of the electricity market on Wednesday to April next year, a month after a referendum to recall the president's mandate.
The reform, promoted by President Andrés Manuel López Obrador, aims to put the sector in the hands of the state-owned CFE, as well as eliminate regulatory bodies, eliminate permits and guarantee the control of the State over the coveted lithium reserves.
Business leaders and foreign officials, including from the United States, have expressed concern that the bill could deter private investment and spark international legal disputes.
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Congressmen from the ruling National Regeneration Movement (Morena) and its allies agreed to seek approval of the legislation in mid-April 2022.
"We proposed to conclude the electricity reform process, which includes approval in the Chamber of Deputies, Senators and at least in 17 local congresses, no later than April 15," wrote on his Twitter account, the Morena coordinator in the lower house, Ignacio Mier.
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"We urge the owners and executives of generating companies to participate in the debate," he added.
A recall referendum on the mandate of López Obrador, who took office in 2018, is scheduled to be held in March.
A senior Morena politician told Reuters that the party anticipates an overwhelming victory for López Obrador in the vote, which would give a boost to the government's effort to pass the reform, which requires a two-thirds majority in Congress.
Mexico Energy Reform