Lula says privatization of Eletrobras was ‘banditry’ and will be questioned

President Luiz Inácio Lula da Silva (PT) said, this Tuesday (7), that the AGU (Attorney General of the Union) will question the privatization contract of Eletrobras, which he classified as “banditry”, “irrational” and ” Machiavellian”.

This is not the first time that the representative has criticized privatization, made official last year by then-President Jair Bolsonaro (PL). But this time, he said that the government would seek to review the rules to which the Union was submitted.

“The government owns 40% of the shares [da Eletrobras], and the government can only participate in the management 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. In other words, it was almost like a bandit so that the government does not acquire a majority again”, said Lula.

“Including, possibly the Advocate General of the Union [Jorge Messias] it will go to court so that we can review this leonine contract against the government. Because it’s against the government. Both in terms of shareholding, we want to have more people in management, more people on the board, and this thing you can’t buy because you’ll pay three times more. This is an irrational, Machiavellian thing that we cannot accept.”

The agent did not say, however, what this action would be like, or when it would be filed.

Amidst the criticism, he also said that the company’s directors increased their salaries from R$60,000 to R$360,000 and that a director receives R$200,000. “In other words, what is privatization for?”

The statement was given during breakfast with media outlets and alternative blogs aligned to the left, which took place at the Planalto Palace. On January 12, he had already held a first meeting with the press.

The Chief Executive said he had no intention of “collecting money to buy it back”, because his priority at the moment is to end hunger. But he opened up the possibility for that, if the economy starts growing again.

Lula also spoke again that the financial market needs to be sensitive, “it’s not just about making money.” The Chief Executive also said that “patience”, if not the case.

“I’m not even asking them to change and agree with me. Now, don’t ask me to agree with them either because my goal is to make the Brazilian people go back to work, eat, study, be happy. And I will do it , regardless of the criticism and bad mood of some people”, he added.