A PYMNTS Company

Mexico: In reshuffle, INFONAVIT requests COFECE advice

By  |  January 2, 2019

The Institute of the National Housing Fund for Workers (INFONAVIT) of Mexico has asked the Federal Commission for Economic Competition (COFECE) to conduct a study in support of a generalized restructuring that the institute will undertake.

Starting in 2019, INFONAVIt will seek to reduce different areas, make salary adjustments and bring down expenses, seeking a reduction of up to 25% in administration and operating expenses.

Another measure announced will be the end of direct procurement, opting instead for bids and tenders, thus avoiding monopolistic practices and the generation of barriers to competition, an area where COFECE can provide support in terms of the regulatory framework and in the correct acquisition of goods and services in a free competition environment.

Full Content: El Siglo de Durango

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.