Economy

Brazil’s Government confirms the privatization of Correios

The announcement will be made this afternoon by the Brazilian Minister of Economy Paulo Guedes.

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  • It’s official: The Minister of Economy Paulo Guedes confirmed that the Brazilian post office is one of the state-owned to be denationalized.
  • Correios and other 15 companies are on the lista.

The Brazilian Minister of Economy Paulo Guedes confirmed this Wednesday that Correios and other 15 state-owned companies will be privatized by Jair Bolsonaro’s government.

“Let’s start the PPI (Investment Partnership Program) by Correios,” Bolsonaro said to Valor Econômico still in the morning. “The privatization of the post office goes through Congress; it’s a long process.”

As remembered by our columinst Diego Amorim, during his induction as an official candidate in July of 2018, 77 days prior to the first round of voting, Bolsonaro gave a speech in which, among many of the promises made, he emphasized that if he was elected, he would “privatize the majority of public companies”—denationalizing was part of the superficial notions that he had (and has) concerning economic liberalism.

Earlier hits Wednesday Poder360, a Brazilian site focused on politics, revealed the supposed list of 17 state-owned companies to be privatized. Later in the afternoon, the official list was announced by Guedes.

Nine new companies were added at the list:

  1. Emgea (a asset management company);
  2. ABGF (Brazilian Agency for Guarantee Funds and Guarantees Management);
  3. Ceagesp (Company of Warehouses and General Warehouses of the State of São Paulo);
  4. Ceitec (Center of Excellence in Advanced Electronic Technology);
  5. Telebras (the Brazilian telecommunications company);
  6. Correios ;
  7. Codesp (CDock Company of the State of Sao Paulo).
  8. Serpro (Federal Data Processing Service);
  9. Dataprev (Social Security Information and Technology Company);

Other seven companies were already included in PPI:

  1. Eletrobras (the company that controlls great part of the electric power generation and transmission systems in Brazil through subsidiaries)
  2. Casa da Moeda (the Brazilian mint, responsible for producing producing coinage and other official titles for the country)
  3. Ceasaminas (Minas Gerais Supply Central);
  4. CBTU (Brazilian Company of Urban Trains);
  5. Trensurb (Urban Train Company of the city of Porto Alegre S.A.);
  6. Codesa (Dock Company of the State of Espírito Santo);
  7. Sao Sebastiao Port.