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Fonafe will appoint the new directors of Petroperú, announces the Executive

Fonafe will appoint the new directors of Petroperú, announces the Executive

The president of the Council of Ministers, Alberto Otárola, announced the approval of an emergency decree with extraordinary measures to ensure the supply of fuel and improve the governance of Petroperú.

After a meeting at the PCM, the prime minister said that, among these measures, are the provision of some guarantees for working capital, in addition to the expansion of the current guarantees to ensure the supply of oils in the state company.

“It is not capitalization or cash, but a way to ensure the supply of fuel in the country,” Otárola said.

Likewise, he stated that Petroperú’s board of directors will be recomposed immediately and “Fonafe, in a second moment, will elect a professional board.”

Petroperú: MEF and Minem in favor of their return to Fonafe

For his part, the Minister of Economy and Finance, José Arista, asserted that the company is being completely restructured “because changes in governance and directors and financial support are being proposed.”

According to the head of the MEF, at the moment the big problem of the state company “is not the lack of capital solvency, but the liquidity problem.”

“We have approved a source of financing with a sovereign guarantee that is more economical through the Banco de la Nación. I believe that with this financial relief plus the total change in the governance of the institution, plus the austerity regulations that are being proposed, will once again be a solvent company and the pride of all Peruvians,” Arista signed.

In turn, the Minister of Energy and Mines, Rómulo Mucho, specified that, during this Monday’s meeting, “the causes and consequences of this rescue have been analyzed.”

Much indicated that the Executive’s intention is for Petroperú to “recover its prestige and investment made” (in the Talara refinery). Thus, the new independent board will determine what the management tools will be so that the company “shows results in blue.”

“As we all know, the investment has already been made. It has been years since there has been [combustibles debido al parón de la refinería] and also COVID-19 and other phenomena that have affected the situation today,” the minister stated.

“It’s not free, you always have to do your best because Petroperú is our company, a company that must win,” he added.

Source: Larepublica

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