SAO PAULO (Reuters) – Petrobras’ current model, in which the state controls the company, seems outdated, and the National Congress is the best place to debate whether the company should be state-owned or private, said the minister of mines. and Energy, Adolfo Sachsida, in audience at the Chamber of Deputies.
“This is the moment of decision, it’s time to choose… you want a state-owned or private Petrobras, the current model doesn’t work, I’ve already said which one I prefer”, said the minister, emphasizing that he was in favor of competition, as a way of guaranteeing lower prices for consumers.
Amid criticism from deputies about the fact that the government does not interfere in Petrobras’ pricing policy, Sachsida said he agrees “that Petrobras’ current model does not work.”
“It has to be clear to society, it has to choose the model, a state or market Petrobras, I don’t think anyone is satisfied with this model”, reinforced the minister.
“I don’t think this is the model that satisfies Brazilian society,” he added.
Asked about what a privatization of Petrobras would look like, the minister said that the government is studying several options, but recalled that the recent capitalization operation of Eletrobras is an example that can be followed.
“Several studies are being carried out, we have to learn from the successful experience of Eletrobras.”
At the beginning of the month, the Board of the Investment Partnerships Program (CPPI) approved the recommendation of Petrobras’ qualification for evaluation studies for privatization.
If President Jair Bolsonaro accepts the CPPI’s recommendation, a decree will be issued on the subject.
After the effective inclusion of Petrobras in the PPI, studies will be initiated to propose the necessary actions for the privatization of the company.
Such assessments will be produced by an inter-ministerial committee to be established between the Ministry of Mines and Energy and the Ministry of Economy.
With regard to fuel prices, Petrobras has stated that it is not insensitive to the impact of fuel prices on society, but explains that it is not the only supplier to the Brazilian market, and that is why it is necessary to maintain parity with the international value, so that other players, such as distributors and importers, are able to supply the country, minimizing the risks of shortages.
The minister said he was in favor of competition between agents as a way to obtain lower prices. “PPI (Import Parity Price) is not a market price, it is a calculated price”, he said about the parameter used by Petrobras. “To have a market price, there is only one way, more competition.”
Earlier, at a hearing that began this morning, Sachsida said that the Brazilian government cannot control fuel prices and there are legal frameworks that prevent interference in Petrobras.
(By Roberto Samora)
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