Brazilian gov't announces major privatization plan

Source: Xinhua| 2019-08-22 15:59:55|Editor: xuxin
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RIO DE JANEIRO, Aug. 21 (Xinhua) -- The Brazilian government announced on Wednesday a plan to privatize nine state-owned companies.

The list includes the Brazilian Post, Sao Paulo state dock company Codesp, telecom company Telebras and public company Dataprev affiliated to Brazil's Ministry of Social Security and Welfare.

The plan was announced by the presidential office after a meeting between President Jair Bolsonaro and staff of the Investment Partnership Program council.

In addition, the presidential office also expressed the intention to privatize daycares and prisons, sign concession contracts of the national parks of Jericoacoara and Lencois Maranhenses in northeast Brazil, and renew the concession contract of the Iguacu National Park on the border with Argentina.

According to Brazilian law, state-owned companies cannot be privatized without congressional approval, and an analysis of the Brazilian Development Bank is also critical to Congress' decision.

Earlier in the day, it was reported that the government planned to privatize 17 companies until the end of this year. However, the government denied, saying the privatization plan has no fixed deadline.

The Brazilian government, which currently owns 130 companies in several areas, also plans to privatize several other companies, including electric company Eletrobras, while the privatization is pending congressional approval.

When asked about the possibility of privatizing Petrobras, Brazil's largest state-owned oil and gas company, Chief of Staff Onyx Lorenzoni said the administration hasn't yet reached a consensus about the possibility of privatizing the oil giant.