Mexico's Senate Votes to Abolish Autonomous Regulatory Bodies

Mexico's Senate approved a reform to dissolve autonomous regulatory bodies, sparking controversy from opposition and industry. These agencies' functions will transfer to government bodies, aiming to streamline governance. Critics warn that the reform could undermine democracy by diminishing transparency and accountability within the government.

Mexico's Senate has passed a controversial reform aiming to eliminate the country's autonomous regulatory bodies responsible for overseeing key sectors and ensuring transparency. The move, spearheaded by the ruling Morena party, has faced significant opposition and industry criticism.

Approved by 86 out of 128 senators, the measure will dismantle independent agencies such as the antitrust body Cofece, the telecoms regulator IFT, and others that monitor energy, hydrocarbons, and public information. These agencies' functions are set to be absorbed by existing government ministries and other official entities.

The administration argues this will make governance more efficient and cost-effective. However, opponents claim it poses a significant threat to the country's democratic framework, risking increased governmental opacity and reduced accountability.

(With inputs from agencies.)