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What are PIDIREGAS and what are the implications of its elimination?

April 26, 2017Elimination implications pidiregas

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What are PIDIREGAS and what are the implications of its elimination?

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PIDIREGAS, long-term productive infrastructure projects, were, between 1999 and 2008, an important component of Petróleos Mexicanos and its subsidiary entities capital expenditures. PIDIREGAS are funded through financing activities of the Pemex Project Funding Master Trust, the Fideicomiso (Trust) F/163 or directly by a contractor. In accordance with the Programa para Impulsar el Crecimiento y el Empleo (Program for Growth and Employment) announced by the Mexican President Felipe Calderón, on November 14, 2008 became effective some modifications to the Ley Federal de Presupuesto y Responsabilidad Hacendaria (Federal Law of Budget and Fiscal Accountability) by its publication in the Diario Oficial de la Federación (Official Mexican Gazette).