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Congress approves the Fuel Subsidy Law and passes it to the Executive for enactment

The Chamber of Deputies approved the fuel subsidy bill without modifications. No modifications were made to the version sent by the Senate and therefore, the document goes to the Executive Branch for promulgation.

After a long session, the Chamber of Deputies approved the project by which transitory contingency measures are implemented for the commercialization of Diesel, Gasoil Type III and Nafta 923 Octanos by Petropar, through its network of service stations.

The proposal sent by the Senate was approved without modifications, despite the fact that some deputies sought changes in the project, mainly with regard to article 5, where measures to rationalize public spending are permanently established.

It prohibits the allocation, discount, exemption and delivery of fuel, personal cards or fuel quotas to the authorities and officials of the Powers of the State and of the Organisms and Entities of the State (OEE). It also includes public and mixed economy companies, Corporations with Majority Shareholding of the State and municipalities, in all their modalities.

In addition, the Ministry of Finance is authorized to increase income, expenses and financing within the General Budget of the Nation and to make the necessary budget, treasury, accounting and credit adjustments.

In other words, the Treasury will establish the budgetary and financial mechanisms to compensate and replenish the Petropar resources affected by the price reduction. The loan of 100 million dollars initially proposed is ruled out.

The document passes into the hands of the Executive Power for its promulgation and entry into force.

The Law, once approved, will have a term of two months, and the Executive Branch may increase or decrease its duration. It is worth clarifying that in no case, it may be extended for more than one month.

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