Brazil Workers Continue Eletrobras Privatization Protests

The privatization of the state-owned power distributor Eletrobras Group, which would cut the public stake in the company from 63% to less than 50%, is expected to raise US$ 2.43 billion for the government. Private companies will be limited to a 10% share of the group, and “expects to conclude the Eletrobras sell-off by mid-2018.” Petrobras workers have described the privatization plans as “evil packages.” Critics from the opposition Workers' Party “have denounced the move as one of many neoliberal austerity measures implemented by Temer’s government. His administration claims privatization will tackle the country’s public spending deficit of almost US$50 billion. Lindbergh Farias, a Senate PT leader, slammed the sale of Eletrobras as ‘a crime against the nation.’”