Kirlawa

[Nileowen]

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CORE Act passed, mass nationalisations underway

August 15th 5636

The government has passed the Civil Oversight and Regulation of the Economy Act, or CORE Act, establishing the National Economic Direction Authority and granting it sweeping powers to issue binding directives to ministries, firms and institutions,  alongside the ability to enforce penalties should entities fail to heed those directives. The Act has given NEDA jurisdiction over most economic sectors, and has entrusted it with the duty of directing the national economy. It has also established Offices and subdivisions of NEDA, each of which is to ensure that firms and unions within their specific domain adhere to quotas, standards and national planning cycles. Outlines for these cycles are to be published by NEDA at the end of every year, and will be reviewed by legislature to be approved or denied.

NEDA has already begun mass nationalisations of important sectors and the reorganisation and merging of the companies in those sectors. Sectors with mergers underway already are: energy, with the National Power Authority, heavy industry, with the National Manufacturing Corporation, agriculture, with the Grain and Food Authority, infrastructure, with the National Infrastructure Development Corporation, and mining, with the Dunmore Basin Extraction Company. Further nationalisations are yet to be announced, while the first planning cycle is being drafted.