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Government wish Eletrobras Privatization approved in Congress until August

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Rodrigo Maia House of Representatives Speaker,

 

Government is working internally with the approval of the privatization bill Eletrobras in Congress until August, shortly after the turn of the parliamentary recess in July, according to a source who participated in the negotiations on the issue with the Presidential Palace.

The schedule, however, would be the maximum to start the sales transaction this year, which would provide fatten the Treasury cash by R$ 12.2 billion, about US$ 3,5 billion according to a forecast from the federal budget for 2018.

According to the source, until August you can not pass the House of Representatives and also in the Senate bill, a plan B would try to vote at the elections, which will take place in October.

In this case, however, there would be enough time for the money to the grant of Eletrobras plants from the coffers of the federal government in this fiscal year. Then, depending on the outcome of the elections, may or may not be the government’s commitment to mobilize their base to pass the bill. It’s a risk.

Approval in the first half is more difficult
The official line is that the approval will still occur in the first half, but the fact is that the governing coalition in Congress has suffered defeats and can not advance in the course of the project.

On Monday Mar. 5th, dinner sponsored by Infrastructure Agency, the House Speaker, Rodrigo Maia , said that the privatization bill Eletrobras “has every condition to be approved in April,” in the camera. According to Maia, until April 15th, the proposal would be voted by the commission, and on the 30th would for consideration in the plenary of the House.

But the very next day Mar. 6th, there was a setback when the opposition managed to stop the installation session of the Special Commission of Eletrobras.

Mr Arlindo Chinaglia presented a point of order saying that the working group could not function before the installation of the permanent committees. Mr Nelson Marquezelli, which is part of the governing coalition and presiding over the session, decided to accept the issue of the opposition order.

Rodrigo Maia did not like and called a new meeting for the installation of the commission for the next Tuesday Mar. 13th.

Model restructuring: remains with only 5 following Members
As well as the commission of Eletrobras, another important working group for the sector, the special commission that will examine the new rules of the electricity sector, can not leave the paper.

The order of creation was given last week by the House Speaker, and should be installed this week. But he had only five nominations of party leaders to their composition, on the need for a minimum of 18 members to the start of work. The full group will have to rely on 35 other parliamentary members and 35 alternates.