Mexico opposition party, PRD, proposes limited energy reform

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An activist stands in front a banner during a political meeting organized by PRD to present a proposal to the energy reform bill in Mexico CityBy David Alire Garcia MEXICO CITY (Reuters) – Mexico's largest left-of-center political party proposed a plan on Monday that would revamp state-oil monopoly Pemex, but without amending the constitution to permit more private investment in the oil, gas and electricity sectors, as the government has proposed. The proposal of the opposition Party of the Democratic Revolution, or PRD, would provide Pemex with budget and management autonomy, and create a new fund to administer the nation's energy riches. The proposal would also gradually lower the company's tax burden by 9 percent to 62. …

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