AGL 38.09 Decreased By ▼ -0.07 (-0.18%)
AIRLINK 136.34 Increased By ▲ 2.15 (1.6%)
BOP 9.20 Increased By ▲ 0.35 (3.95%)
CNERGY 4.72 Increased By ▲ 0.03 (0.64%)
DCL 8.85 Increased By ▲ 0.18 (2.08%)
DFML 38.34 Decreased By ▼ -1.44 (-3.62%)
DGKC 85.45 Increased By ▲ 0.30 (0.35%)
FCCL 35.15 Increased By ▲ 0.25 (0.72%)
FFBL 76.21 Increased By ▲ 0.61 (0.81%)
FFL 12.66 Decreased By ▼ -0.08 (-0.63%)
HUBC 108.70 Decreased By ▼ -0.75 (-0.69%)
HUMNL 14.73 Increased By ▲ 0.63 (4.47%)
KEL 5.58 Increased By ▲ 0.18 (3.33%)
KOSM 7.96 Increased By ▲ 0.21 (2.71%)
MLCF 40.78 Decreased By ▼ -0.59 (-1.43%)
NBP 70.94 Increased By ▲ 1.24 (1.78%)
OGDC 195.25 Increased By ▲ 1.63 (0.84%)
PAEL 26.96 Increased By ▲ 0.75 (2.86%)
PIBTL 7.46 Increased By ▲ 0.04 (0.54%)
PPL 168.02 Increased By ▲ 4.17 (2.55%)
PRL 26.19 Decreased By ▼ -0.17 (-0.64%)
PTC 20.34 Increased By ▲ 0.87 (4.47%)
SEARL 92.75 Increased By ▲ 8.35 (9.89%)
TELE 7.84 Decreased By ▼ -0.15 (-1.88%)
TOMCL 35.49 Increased By ▲ 1.44 (4.23%)
TPLP 8.91 Increased By ▲ 0.19 (2.18%)
TREET 17.29 Increased By ▲ 0.11 (0.64%)
TRG 59.27 Decreased By ▼ -1.73 (-2.84%)
UNITY 31.02 Increased By ▲ 2.06 (7.11%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 10,901 Increased By 125.5 (1.16%)
BR30 32,654 Increased By 420 (1.3%)
KSE100 101,357 Increased By 1274.6 (1.27%)
KSE30 31,488 Increased By 295 (0.95%)

Brazil's government is considering selling stakes in state-controlled assets including its postal company as well as holdings in transport, power and insurance firms in a bid to raise capital and streamline the public sector, a newspaper reported on Sunday. Interim President Michel Temer's government is working with a list of companies and sectors that would be the first targets of any move back toward sales of state-controlled holdings, the Rio de Janeiro daily O Globo said, citing anonymous members of Temer's economic team.
That practice was pursued in the 1990s and early 2000s but largely scaled back by the leftist Workers Party during its 13 years in power under former president Luiz Inacio Lula da Silva and his successor, Dilma Rousseff.
Rousseff was suspended as president last week after Brazil's Senate voted to try her on charges of budget irregularities. She was immediately replaced by Temer, a centrist from Brazil's largest political party.
Brazil is mired in a deep economic recession marked by rising unemployment, near double-digit inflation and shaky consumer and business confidence. The government is running a hefty deficit.
O Globo said the government is considering partial sales of tranches in Correios, Brazil's mail carrier, and the Casa de Moeda, the national mint.
It may also revive efforts to sell stakes in the insurance unit of Caixa Economica Federal, a big public lender, and various port operators across Brazil in which the federal government has holdings, the newspaper said.
Other privatizations being considered, according to the report, include the partial sale of Infraero, the national airport operator, electricity holdings in more than 200 small companies controlled by Eletrobras, the state-run power company, and various assets held through BNDESPar, the investment arm of national development bank, BNDES.
A spokeswoman at Brazil's finance ministry declined to comment on the report, saying Finance Minister Henrique Meirelles would give more details about the government's economic plans in the coming days.
The newspaper did not give a time frame for any of the privatizations being considered, but said that sales would depend on the operational and financial conditions of each holding, in addition to regulatory and market conditions.

Copyright Reuters, 2016

Comments

Comments are closed.