The Minister of the Federal Audit Court (TCU) Vital do Rego Filho anticipated this Wednesday (11) part of the vote he will give next week, against the privatization of Eletrobras.
Speaking at the opening of the Court’s session, in the early afternoon, he said he had identified a “high accounting of provisions for contingencies” and determined that the technical area of the TCU open an internal investigation to investigate them.
Provisions, or provisioning, is the technical term that means a financial liability with an uncertain value or date to be paid.
According to him, in the 3rd quarter of 2021, Eletrobras increased the value of the so-called individual provisioning from R$ 17 billion to R$ 26 billion.
He did this, according to the minister, to comply with decisions of the Superior Court of Justice (STJ) contrary to the state. But they still didn’t have a fixed date for payment.
Vital, who has opposed the privatization process of the state-owned company, understands that if Eletrobras is capitalized and this amount is reverted in favor of the company, today’s shareholders will have lost these resources with the sale.
“If, after Eletrobras is capitalized, the provisioning estimate is revised in favor of the company, with the consequent reversal of the previously recorded provisions, there may be a significant increase in the dividends to be distributed, considering the total balance provisioned around R $ 26 billion in its individual balance sheet”, he said, during the opening of the TCU session this Wednesday.
Also according to him, “if this possibility materializes, the Federal Government will no longer receive large dividends for the year 2021, since, although it may receive them in the event of a future reversal of provisioning, it will do so in a lower proportion than it would have occurred when it held 72.22% of the company’s capital stock, since the capitalization of Eletrobras will reduce its participation to a maximum of 45%”.
THE CNN , he said that this questioning will be in his vote. Today’s demonstration, however, does not have the potential to change the date of the trial of the case at the TCU, scheduled for next Wednesday (18).
When contacted, the state-owned company did not respond.
Source: CNN Brasil
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