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.
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.