They will integrate the functions of IFT and Cofece into Promtel

The functions of the Federal Economic Competition Commission (Cofece) and the Federal Telecommunications Institute (IFT) will be transferred to the already existing Telecommunications Investment Promotion Agency (Promtel), in accordance with the Official Gazette of the Federation (DOF).

The decree that extinguishes seven autonomous entities specifies that the savings obtained from this modification will enter the Pension Fund for Wellbeing.

The entities that disappear are Cofece, the IFT, the national Hydrocarbons and Energy Regulatory commissions, the National Council for the Evaluation of Social Development Policy, the National Institute of Transparency, Access to Information and Protection of Personal Data and Mejoredu .

On the other hand, Promtel, with legal personality and its own assets, will be part of the Ministry of Infrastructure, Communications and Transportation, and will function as a new authority on economic competition, which will centralize the powers of the IFT in areas of preponderance and asymmetric regulation.

In turn, it will unify them with the powers of Cofece, to promote greater efficiency and cohesion in the matter, according to a document from the Chamber of Deputies provided to The Day.

Raúl Carbajal, an academic at the National Autonomous University of Mexico (UNAM), commented that the Promtel areas that assume the functions of Cofece and the IFT should have a more decisive participation in the regulation of the different markets.

Cofece needed to be much firmer in identifying problems of oligopoly, collusion and monopolistic tendencies in the different sectors of financial, commercial and entertainment services, which affect the consumer, prices and quality of services.he commented.

The decree to integrate the functions of Cofece and IFT will come into force after 180 days from the date Congress issues the secondary laws on competition and free competition, as well as on telecommunications and broadcasting, respectively.

Article ten of the decree stipulates that the authority in matters of free competition and competition will have legal personality and its own assets, as well as technical and operational independence in its decisions, organization and operation.

Likewise, it will guarantee the separation between the authorities that investigate and those that resolve the procedures.

Meanwhile, through article eleven it was determined that the Cofece and the IFT will be extinguished at the time of the entry into force of the decree, and that the commissioners who continue in their position will conclude their functions at that time.