Panel SA: Industry is skeptical about Lira’s idea for the government to sell Petrobras shares

Industry representatives viewed with skepticism the suggestion made by the president of the Chamber, Arthur Lira, for the government to sell Petrobras shares. The idea is that the Union ceases to be the majority shareholder and, thus, avoids erosion of the state-owned company’s pricing policy.

For José Carlos Martins, president of the CBIC (Brazilian Chamber of the Construction Industry), what Petrobras lacks is regulation.

“Worse than a public monopoly is a private monopoly. We understand that the monopoly needs to be regulated. That’s the problem. The owner is independent. Petrobras cannot continue the way it is. private, it could get worse”, he says.

In his opinion, the change would not reduce Bolsonaro’s weariness, because the problem is the price of the fuel that reaches the consumer and not who charges it.

Although he supports privatization, the position of Fernando Pimentel, from Abit (Brazilian Association of Textile and Apparel Industry), is similar. Selling shares and taking control of the state-owned company from the government’s hands does not mean diminishing the monopoly, according to him.

In Pimentel’s opinion, it is also necessary to invest in public measures that mitigate the impact of prices on the poorest population during periods of crisis, without “hurting the market and expelling competition”.

Joana Wedge with Andressa Motter and Paulo Ricardo Martins