The Minister of the Federal Audit Court (TCU) Vital do Rêgo sent, on the afternoon of this Wednesday (11), a statement to the president and the other ministers of the court with a proposal to audit the technical area of the court so that it can carry out a control action to evaluate the accounting procedures for provisioning related to legal disputes over the compulsory energy loan at Eletrobras.
If the audit request is accepted, the judgment of the Eletrobrás privatization process leaves the TCU’s agenda.
In the document, to which the Insider Focus Congress had access, Vital do Rêgo states that a high amount of contingency provisions was recorded. In the third quarter of 2021, R$ 9 billion would have been provisioned, which would represent more than half of the existing balance until then, increasing its individual provisioning from R$ 17 billion to R$ 26 billion, which reduced, in accounting terms, the company’s profit. company in the period.
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The concern is that after Eletrobrás is privatized, the provisioning estimate may be revised in favor of the company, which may generate an increase in dividends to be distributed and the Federal Government no longer receiving the income.
Opposition discussed irregularities in the TCU
A group of leading deputies from opposition parties in the Chamber met on Tuesday (10th) with the minister responsible for the privatization of Eletrobras, Adolfo Cedraz, and on Wednesday afternoon (11th) with minister Vital do Rêgo in the Federal Audit Court (TCU).
According to the deputies, there are irregularities both in the valuation of shares and assets of Eletrobras and subsidiaries, as well as inconsistencies in the modeling, especially in the segregation of the assets of Itaipu Binacional and Eletronuclear.
Deputies Alencar Braga (PT-SP), Arlindo Chinaglia (PT-SP), Bira do Pindaré (PSB-MA), Bohn Gass (PT-RS), Henrique Fontana (PT-RS), Afonso Florence (PT-BA) and Paulo Ramos (PDT-RJ) discussed irregularities and inconsistencies they identified in the Eletrobras privatization process that is being processed by the TCU.
“We understand that there are irregularities and there is no point in moving forward with the process. The government did not update Eletrobras’ value at the time of pricing and disregarded some central things, such as power in relation to energy production. According to estimates, the value could be double what is being stipulated. This is serious. Minister Cedraz said that it is not clear in the law whether pricing has to be before or after privatization”, said the minority leader in the Chamber, deputy Alencar Braga, to the Congress in Focus.