Auditors gave the green light for the privatization of Eletrobras, the nation's biggest electricity generation company.
The country's audit court approved the sale by 7-1 votes on Wednesday, when it resumed deliberations after postponing its final decision for 20 days to give one of its members more time to evaluate the process. The administration of President Jair Bolsonaro wants to raise about 13 billion reais ($ 3.5 billion) for its majority stake in the company.
As the October presidential gets closer, the government wants to sell the Eletrobras as quickly as possible.
Vital do Rego was one of the court's members and voted against the sale. According to his official agenda, the Mining and Energy Minister made a tour of all of the auditors' offices asking for support.
The risks to Eletrobras's sale grow as the court delays final approval.
The Mining and Energy ministry wants to sell the government's stake in the company. The state development bank, which owns an 11% stake in the company, expressed reservations about the timing, saying that this is typically a period of low liquidity.
Some of Bolsonaro's allies want the government to use part of the sale's proceeds to subsidize electricity bills.
Brazil has seen its inflation hit the highest since 2003
The front-runner in the presidential race has pledged to reverse the sale if he is elected.
Sem uma Eletrobrás pública, o Brasil perde boa parte da sua soberania e segurança energética. As contas de luz devem ficar ainda mais caras. Só que quem não sabe governar tenta vender empresas estratégicas, ainda mais correndo para vender em liquidação. #LuzParaPoucos
— Lula (@LulaOficial) May 18, 2022
With help from Gabriela Mestre.
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