Lola: I have not yet participated in the privatization of Eletrobras, and I intend | Economy

Lola: I have not yet participated in the privatization of Eletrobras, and I intend |  Economy
Lula reaffirmed the plan to file a lawsuit against the privatization of Eletrobras Fernando Vrazao / Agência Brasil

Posted on 6/5/2023 3:13 PM


São Paulo and Brasilia – President Luiz Inacio Lula da Silva said on Saturday the 6th of this month that he still intends to file a lawsuit to question the privatization of Eletrobras. According to him, the lawsuits filed so far only call into question the fact that the government has less voting power than its stake in the company that was privatized last year.

In an interview with journalists during a trip to the United Kingdom, Lula said that he did not agree with the conditions set at the time of the operation, which set high values ​​​​for the re-nationalization of the company, and indicated that he did not agree with this. They considered it fair that the government should have 43% of the company but be limited to 8% of the vote.

In addition, the president questioned the amounts paid to the company’s directors and directors, who readjusted salaries by more than 3,576%. “Managers have raised their salary from R$60,000 per month to more than R$360,000 per month, and a meeting organizing consultant earns more than R$200m. It is not possible in a country where R$33m is spent to live in a situation like this.”

At the time of the adjustment, the head of the state-owned company, Wilson Ferreira Jr., said the wage increase was justified because it had found comparisons with any private company of similar size, and that wages had since been frozen. 2015


On Friday, the 5th, the Attorney General’s Office (AGU) filed an unconstitutional claim in the Supreme Federal Court (STF) questioning the state’s voting power in Eletrobras. However, the procedure does not demand re-nationalization of the company, and the object of other proceedings being processed in court at the present time. The government requests that this restriction be suspended pending a ruling on the case by the STF. The justification for the request is that the vote restriction “is an affront to the constitutional principles of reasonableness, proportionality, impersonality, morality, and competence of public administration.”

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