In the midst of the controversy generated by the report presented by the Ministry of Mines on the gas and oil reserves in which it is assured that the resources would reach 2037, the Minister of Finance, José Antonio Ocampo, clarified that for now final figures are not available and the Government will hold a meeting next week to review the issue.

(You can also read: ‘No signatures were falsified’: Minister Irene Vélez ratified the oil report)

«Next week we are going to meet the government team with the Ministry of Commerce, with ecopetrol. There are still no final estimates of the reserves, we have to see how the exploration contracts already signed guarantee sufficient reserves», said the minister in statements to the media in relation to the achievement of the Minister of Mines, Irene Vélez, who reiterated that it is already a decision of the Government the position of not signing more oil contracts.

The minister reiterated that from the portfolio there has always been talk of three transitions, the energy transition, export transition and fiscal transition. «All three involve oil and we have to see if the resources are sufficient to guarantee the three transitions.»

In addition, the minister appeared that, officially, the report presented by the National Hydrocarbons Agency is the one that determines the requirements are the reserves. «We will see all this with the minister, to see the estimates that they have based on the contracts,» said the head of the Treasury portfolio.

Ministry of Finance rules out Colpensiones becoming a bank

The Finance Minister, José Antonio Ocampo, also ruled out the proposal that Colpensiones become a bank, an intention that has been raised from various sectors.

«Categorically, the Ministry of Finance had already said it, does not accept the proposal that Colpensiones become a bank» the official said.

«I have said it publicly, there is no pension fund in the world that is a bank, that is not a proposal. If there are surpluses from the pension system, they will have to be invested in public debt securities, not in order to give loans, that is not it is the function of a pension fund”, clarified Ocampo.

The minister assured that he has been working with the DNP and the Ministry of Labor on the possibility of creating a public entity, which could be Colpensiones or another entity, that can manage the capitalization of the pension system. «It could be a possibility,» she added.

Likewise, Ocampo mentioned that the fiscal feasibility of the contribution ceilings posed by the first pillar of the pension reform proposal is being reviewed.