Catharsis in the UIA by Vaca Muerta, taxes and the sharp drop in activity

Maybe because the industry is not exactly at its best, entrepreneurs who made catharsis yesterday between 15 and 18 in the UIA only shared caramelitos dulce de leche, a kindness of Arcor, and a single round of filter coffee. The directors of the entity filled, as rarely, the Petiribí room. And even those who exhibited a meteoric growth like Tecpetrol from Techint in Vaca Muerta, commented that this project, due to the cut in subsidies, will go ahead but at an ostensibly slower pace. Luis Betnaza, director of Techint, talked about the change in those rules of the game. “Vaca Muerta is the chronicle of a success with failure included,” he shot. He detailed how the investments had impacted the metal-mechanic chain and generated more gas at a lower price at the wellhead, improving the country’s trade balance. The certain thing is that of the 7 equipment that they had working will be reduced to very few. Jose Urtubey endorsed: “What happens in Vaca Muerta is the result of the improvisation of the Government that opts for a financial model.”

It was Cristiano Rattazzi, from Fiat, in what looked like a lift shot to Techint, who said that in the crisis England of the 70s, the Income Tax reached 90% and “nobody complained. There is pain but it is necessary. Remember that we were on our way to Venezuela, “he told his peers. At that time, the only crossing of the meeting occurred. Guillermo Moretti, of the plastic sector, objected. “Christian, if we continue like this, we are on our way to becoming Venezuela.”

Pedro Reyna, industrialist of the wood, described the crisis of the sector with a fall of 35%. Daniel Funes de Rioja said that in food and beverages production decreased 5%. He pointed out that taxes are drowning the sector: “There are 12 provinces that, instead of decreasing, raised Gross Income, to which are added the withholdings and the elimination of subsidies.” In the same line, Alberto Alvarez Saavedra, of the laboratories, affirmed that in units, the sale of medicines was reduced 4% in 2018 and 20% so far in the Macri administration. José de Mendiguren did not stay behind in his story about the textile industry with a 35% drop and a business cemetery. “When a textile ton, which is fashionable, is exported, the price is US $ 36,000, because it is added value. But the margins are very small and now the dollar is lower, we pay withholdings and they took away the withdrawals. “

Other industrialists referred to the increase in energy costs and delays in the payment chain. And there were complaints in a very loud voice to AFIP’s decision to raise interest for late payments. The meeting was not without suspicion. It was learned that the UIA had asked to observe the bidding of the Port of Buenos Aires, a concession for 30 years with an option to another 15: they just showed them the documents and did not give them time to comment.

The technicians of the UIA ventured that the industry will fall another 2.5% this year that adds to the fall of 3.5% in 2018. Miguel Acevedo, president of the entity, stressed that no sector is safe. Of course, reported that on Thursday the President called for a strengthening plan for regional economies. And he told, as a businessman linked to the agribusiness with Aceitera General Deheza, that the harvest is booming. The field returns to be the star, they ended up admitting.

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Colin Mitchell

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