G6 businessmen reject Supply law as it ‘risks job creation’
The so-called Group of 6, which gathers the main industrial and financial business chambers, has “unanimously rejected” reforms on the Supply law that will be discussed today in Congress, as it “risks job creation”.
The bill was proposed by the federal government and establishes that the State will be allowed to take an active role in the economic processes of companies so as to determine prices, profit margins and production volumes.
“If the bill passes we would be risking job creation,” former head of the Argentine Industrial Union (UIA) and member of Sergio Massa’s Renewal Front (FR) Ignacio de Mendiguren said after the meeting.
“Argentina needs dollars. Investment is difficult to get. We need to raise imports. Efforts need to be made in these directions,” he added, while saying the goal of the bill is to “increase State intervention in private activity.”
Head of the Argentine Industrial Union (UIA) Héctor Méndez as well as representatives from the Argentine Business Association (AEA), Chamber of Commerce (CAC), Rural Society (SRA), the Stock Market, Construction Chamber (CAC) and Argentine Private Bank Association (ADEBA) also took part in the meeting.