Eletrobras Privatization Proposal Moves Ahead

The Congressional Joint Commission has voted in favor of Provisional Measure 814/2017 (MP-814), which authorizes the privatization of Eletrobras and six of its subsidiaries. Congressman Henrique Fontana denounced the measure, saying “this is a report that determines the increase of energy bills by roughly 5 percent. It facilitates the privatization process and sale of Brazilian public property. Even worse, it proposes that 20 percent of the Social Fund, money derived from Pre-Salt oil and Pre-salt gas that, until this moment, was reserved for investment in education and healthcare, will be withdrawn to finance a gas pipeline construction program.”

Published on

May 9, 2018




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