"Essential taxes" cannot finance the profits of Petrobras shareholders, says the Minister of Mines and Energy.

247 - The Minister of Mines and Energy, Alexandre Silveira (PSD), defended the reintroduction of fuel taxes, stating that tax relief cannot be applied to "taxes essential for improving housing, roads, electricity, and combating hunger and poverty among the Brazilian people, which should finance profits for anyone." 

In a note sent to the column DashboardIn an article for Folha de S. Paulo, Silveira described the Jair Bolsonaro (PL) government's policy towards Petrobras as "insensitive" and "irresponsible." The criticism came in the wake of discussions about the reintroduction of fuel taxes, which were reduced shortly before the elections in an effort to favor Bolsonaro's reelection bid. 

>>> Lula needs to change Petrobras' pricing policy, and any solution outside of that will be a makeshift fix.

On Monday (27), the Lula (PT) government announced the return of federal taxes on gasoline and ethanol starting Wednesday (1). The details of the reinstatement, however, should be defined on Tuesday (28). 

"The insensitive and irresponsible policies of Paulo Guedes [former Minister of Economy] and Bolsonaro took everything that had been built and sacrificed Brazilians, charging high prices for gasoline and selling properties essential to the strategic plan of a company like Petrobras, which abandoned its social function as stipulated in the Federal Constitution," said Silveira. 

According to the report, Silveira also emphasized that during the Bolsonaro administration, the state-owned company withdrew from the states and prioritized the sale of crude oil to the international market, a transaction exempt from taxes. "We will return to having a profitable Petrobras, but through future investments, not through profits from selling off company assets or expensive gasoline," he stated.