Regulatory Alerts2015-12-24 | DOF 5421293Added · Updated
Agreement Establishing General Provisions Regarding the Federal Government's Assumption of Pension and Retirement Payment Obligations of Petroleos Mexicanos and Its Subsidiary Production Companies
The Federal Government, through the Ministry of Finance and Public Credit, assumes a portion of the pension and retirement payment obligations of Petroleos Mexicanos (Pemex) and its subsidiary production companies, capped at the validated reduction of the labor liability achieved by Pemex. This assumption is executed via non-negotiable government securities issued annually starting in 2017, following an independent expert review of the liability reduction calculations. Pemex is prohibited from assigning or encumbering the rights to these securities, and any reversal of the labor liability reduction triggers a proportional reduction in the government's assumed obligation.
More like this from SHCP
SHCP published 20 documents in the last 30 days. We email you each new one the day it's published.