Bolsonaro seeks to accelerate privatization of Eletrobras

The president of Brazil, Jair Bolsonaro, along with other members of the Government, handed over to Congress an interim measure to accelerate the privatization of the energy company Eletrobras.

The company is on the list of State companies that the Bolsonaro Executive wants to privatize before the end of 2021 in order to reduce the country’s public debt.

This measure comes at a time when the government’s privatization agenda is being questioned after Bolsonaro’s intervention in Petrobras, where he dismissed its president, Roberto Castello Branco, to replace him with former Defense Minister Joaquim Silva.

Thus, the presentation of this proposal reaffirms the president’s commitment to the privatization agenda defended by the Minister of Economy, Paulo Guedes.

Specifically, the text presented by Bolsonaro provides for the creation of gold shares for the Government, which means that it will have preferred shares and although it loses majority control, it will continue to have veto power for certain decisions, G1 collects.

The document was delivered to the presidents of the Senate, Rodrigo Pacheco, and to the Chamber of Deputies, Arturo Lira, who has advanced that he will pronounce on the measure in the plenary session next week.

K. Tovar

Source: El Periodico