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Brazilian Government appoints commission to privatise Eletrobras

  • 3 years ago (2018-03-07)
  • David Flin
Distribution 75 Latin America 47

The Brazilian Government has formed a special congressional committee to analyse the Federal Bill PL 9463/18, which proposes the privatisation of the country’s state-owned energy company Eletrobras. The group is due to meet in Brasilia to elect a president and vice-president.

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The bill is intended to restructure Eletrobras, transforming it into a larger company and improve management.

Michel Temer, President of Brazil, has said that with Brazil’s budget deficit at almost $50 billion, it has been preparing a privatisation package that could net $28 billion by the end of 2018.

Eletrobras is responsible for 69 per cent of Brazil’s electricity distribution.