PEMEX’s Debt Affects Campeche SMEs

Business leaders in Ciudad del Carmen are demanding that PEMEX pay its overdue debts to suppliers to address economic risks in Campeche. Outstanding debts have already driven several companies into bankruptcy, significantly impacting the local economy.

Gabriela Cruz, President, National Chamber of the Restaurant and Seasoned Food Industry (CANIRAC) in Ciudad del Carmen joined the Business Coordinating Council (CCE) for coordinated efforts with Governor Layda Sansores. These players are urging PEMEX to settle its accounts, particularly with local businesses.

Cruz warned that without prompt payments, Ciudad del Carmen and the broader Campeche region could face a severe economic downturn. The local economy is heavily reliant on oil activities, and the failure to pay suppliers directly affects workers and their families by limiting their spending power and disrupting the community's economic flow.

Encarnación Cajún, President, CCE Ciudad del Carmen, called for support from both federal and local legislators, as well as political actors from all parties, to join the efforts spearheaded by Sansores. Business leaders and the CCE have sought various platforms to present their plight to PEMEX executives, highlighting the dire financial straits caused by the payment delays.

Cruz emphasized the need for a united front among productive sectors, business chambers, and political actors, transcending partisan differences to prioritize the population's interests. She also warned that if immediate payment agreements and sustainable proposals for the medium and long term are not reached, the regional economy could suffer lasting damage. According to local business estimates, around 20 companies have already gone bankrupt due to this financial strain.

CANACINTRA warned earlier in the year that it is crucial for PEMEX to promptly regularize its payments to suppliers, both large companies and SMEs.?Delays in payments have caused financial difficulties for these companies, which in turn delay payments to their own suppliers. According to PEMEX’s last financial report, the NOC’s debt with suppliers currently stands at over US$19.5 billion.