Lula criticizes the Eletrobras privatization project and claims that “banditry” actions led to the current situation of low government participation in the company’s internal decisions

The Lula government is being marked by strong criticism of the divestments of state assets proposed by previous presidential terms. The current president criticized the Eletrobras privatization project, calling the company's administrative actions "banditry".

After weeks criticizing Petrobras' divestment actions in its assets in recent years, current President Lula turned on Tuesday, (07/02), to the current situation of Eletrobras. The executive called the company's privatization project "banditry", stating that the Government has less and less participation in the company's shares. company. In addition, Lula revealed that the Attorney General's Office (AGU) will act to guarantee state control of the company.

Check out the criticisms made by President Lula

Current President of the Government, Lula once again criticizes the privatization project of the company Eletrobras and calls actions that occurred in the company's internal administration "banditry" 

Current President Lula has strongly criticized the independence of the Central Bank in recent days and has returned to discussing issues of state divestments in recent governments.

The agenda resumed by the Chief Executive this Tuesday was the current privatization project of Eletrobras, a company previously state-owned which, currently, has only 40% of the Government's participation in its shares.

Lula criticized the company's current position in the national market, stating that the process of granting part of the shares to the private market took place in "banditry".

In addition, he took advantage of the speech to state that AGU will not leave the low government participation in the company the way it is currently. The body is considering taking the necessary measures to expand the state's presence in Eletrobras.

“The government has 40% of the shares [of Eletrobras] and can only participate in the management [of the company] as if it had 10%. If tomorrow the government is interested in buying the shares, the shares for the government are worth three times more than the normal value for another candidate”, said Lula.

The “banditry” actions in the Eletrobras privatization project, according to Lula, were carried out to guarantee the low participation of the Government in the company's decisions.

Lula's statements took place at the Planalto Palace, during breakfast with journalists from alternative press vehicles.

The president once again criticized the government's lack of investment in initially state-owned companies, such as the energy company and the oil company Petrobras.

Lula's government criticizes the dismantling of state-owned companies carried out by Jair Bolsonaro and the current situation of the Eletrobras privatization project

Since starting his term as the new president of the Republic, Lula has been constantly criticizing the dismantling of state-owned companies carried out by Jair Bolsonaro during his government.

The Eletrobras privatization project is one of the great examples carried out during the former president's term.

The Union increased from 60% to 45% of the company's shares. Lula stated that the privatization terms are “leonine”, because they make it very difficult for the Union to regain share control of the company.

“[The privatization of Eletrobrás] is against the government both in terms of shareholding — we want to have more people in management, more people on the board — and in this business that you cannot buy because you will pay three times more,” added Lula .

The president stated that this is a Machiavellian situation and his government will not accept such a situation in the coming years.

He wants the State to buy shares in the company again to ensure greater participation in internal decisions.

Now, it remains to wait for the next steps of the Lula Government regarding the Eletrobras privatization project.