The Department of Logistics and Transport of the State of São Paulo announced this Thursday (30) that it will not readjust this year the toll rates whose change in values was scheduled for Friday.
The readjustments, according to the secretariat, would be 10.72% for contracts indexed to the IGP-M (General Price Index – Market) and 11.73% for those linked to the IPCA (Broad Consumer Price Index).
“The decision takes place because of the current economic situation and the Brazil cost, with the unbridled rise in prices, especially fuel,” said the secretary in a press release.
The decision also takes place in a year of elections for governor and president. Governor Rodrigo Garcia (PSDB) is a pre-candidate for the government of São Paulo.
The federal government has been promoting efforts to contain the rise in fuel prices, something that has caused uncertainty among investors about the country’s fiscal framework from 2023 onwards.
The replacement for the so-called PEC for Fuels will recognize a state of economic emergency as a legal justification for creating, by the end of the year, a voucher worth 1,000 reais for self-employed truck drivers, said the rapporteur of the proposal, Senator Fernando, on Wednesday. Bezerra (MDB-PE).
The state of emergency would be due to the increase in fuel prices due to the war in Ukraine, according to the parliamentarian.
The shares of CCR and Ecorodovias highway concessionaires showed, at 12:28 pm, a fall of 2.5% and 1.9%, respectively, while the Ibovespa showed a fall of 0.9%.
“The government of SP does not breach the contract and will dialogue with all sectors involved, including the concessionaires and not burden the state budget even more”, said the state secretary of logistics and transport, João Octaviano Machado Neto, in a statement.
Credit Suisse mentioned in a note sent to clients that the signal given by the government of São Paulo represents a “negative regulatory risk”.
The São Paulo government stated that the annual readjustment of toll tariffs refers to the roads managed by the 18 concessionaires belonging to the State Highway Concessions Program, of which 17 would have updated tariffs on July 1st and one on July 6th.
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