|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

Brazil Court Suspends Decree Authorizing Eletrobras Privatization Process

SAO PAULO – A Brazilian court suspended on Thursday a portion of a presidential decree authorizing the inclusion of state-controlled electric company Eletrobras in a national privatization program, judicial sources said.

The federal tribunal in the northeastern state of Pernambuco, a court of first instance, scrapped one of the decree’s articles that allows the country’s largest power utility and its subsidiaries to be included in President Michel Temer’s privatization drive.

Judge Claudio Kitner said the president had not justified his decision to take action via decree and that lawmakers needed to approve the move.

Temer’s privatization drive – aimed at tackling the country’s chronically high budget deficit – also includes airports, electric transmission lines, highways and even the country’s mint.

His administration announced the plan to privatize Eletrobras, which manages electricity transmission and distribution in Brazil, in mid-2017.

Proceeds from the sale of the company, 51 percent of whose voting shares are state-owned, could total around 20 billion reais (some $6.2 billion), the government said.

The privatization plan for Eletrobras excludes key assets, including the massive Itaipu hydroelectric dam (which Brazil shares with Paraguay) and the company’s nuclear plants.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved