Home Crises Government uses reserves and cuts programs to finance diesel cheaper

Government uses reserves and cuts programs to finance diesel cheaper

The discount on the value of the oil granted to the truck drivers will have a total cost of US$ 2.542 billion

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The Ministry of Finance explained, this Thursday (31/5), how it will pay the discount on the value of diesel given to truckers. The total cost will be R$ 9.5 billion Real (US$ 2.542 billion). Most of the amount will come out of contingency reserves. Benefits granted to exports and industries will also be suspended. The budget for various public programs has also been reached.

According to the Secretary of the Federal Revenue, Jorge Rachid, will be used R$ 6.197 billion of financial contingency reserves. Another R$ 3.382 billion will come from cancellation of primary appropriations. Another R$ 2.168 billion of the reserve for capitalization of public companies will be re-allocated. Finally, R$ 1,214 billion of discretionary expenses will be used.

Among the programs that will lose part of resources to subsidize the R$ 0.46 discount to diesel are the Most Simple Well, public management; to fight against violence against women, settlement of agrarian reform, education in the field, innovative companies, strengthening of the Unified Health System (SUS), decent work and solidarity economy.

President Michel Temer has vetoed the end of the PIS / Cofins charge on diesel fuel by the end of this year. On the other hand, it issued three provisional measures to guarantee the agreement with the truck drivers, who paralyzed the activities and caused a crisis of supply in the country.

To guarantee the agreement, the government published three provisional measures, reducing the price of the diesel liter by R$ 0.46, being R $ 0.16 by the decrease of taxes that affect the oil and R$ 0.30 by the program and subsidy.

Rachid said the diesel will already leave the refineries with reduced values. For this, however, four compensation measures were announced. The first is the revocation of the Chemical Industry Special Regime (REIQ), with the extinction of the presumed PIS / Cofins and PIS / Cofins-Import credit benefits related to products destined to the petrochemical industry.

The second measure, according to Rachid, provides for the reduction of Reintegra’s percentage of refunds – reduction of credit to exporting companies, from 2% to 0.1%. There will also be a matching of the input tax (prepared for the beverage production) to that of the output product. As a rule, the inputs must have lower rates than the final products

The fourth measure provides for the reintegration of the payroll, with the reduction in sectors that had the option of paying the pension contribution, based on billing.

According to Rachid, what remains in the relief is the following sectors: call center, footwear, textile industry, confections, animal protein, leather, IT, people transportation, road haulage, machinery and equipment, vehicle and body manufacturing .

The R$ 0.46 reduction in the price of diesel at refineries will be financed as follows: R$ 0.16 will be through reduction of taxes and R$ 0.30 will be via subsidy. To reach R$ 0.30, the Treasury will pay this subsidy until 7/6 for all companies that charge R$ 2.10. From June 8 until December 31st, the Treasury will bear R$ 0.30 in full.

Producers and importers who qualify with the National Petroleum Agency (ANP) may receive the subsidies.