Brazil: Lula’s government will exclude Petrobras and Correios from the privatization

By Fernando de Castro

Brazilian President Luiz Inácio Lula da Silva received a recommendation from the Council of the Investment Partnership Program (CPPI) on Wednesday 5 to exclude state companies from the privatization processes initiated by former President Jair Bolsonaro.

The resolutions published in the Diário Oficial da União (DOU) include Petrobras and Correios (Post Office) and other companies such as Telebrás and Dataprev.

The measure meets the request of the President of the Republic, who wants the privatization processes of the state-owned companies to be revoked.

The decision was taken at an extraordinary meeting of the CPPI.

The sectorial ministries were oriented to work on the revocation of the privatization processes of the state-owned companies.

The goal is to remove these companies from the National Privatization Program (PND) or to bar their qualification under the PPI (Investment Partnership Program).

The CPPI is a collegiate body that advises the President of the Republic on policies and actions involving partnerships between the public and private sectors.

The decision to exclude Petrobras and Correios from the privatization processes initiated by Bolsonaro follows the line defended by Lula since the beginning of his mandate.

With information from Revista Oeste

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