BRASILIA (Reuters) – Brazilian Economy Minister Paulo Guedes said on Wednesday that the country should privatize state-run oil company Petrobras before it becomes irrelevant and oil loses value, suggesting that the government could use the proceeds from the sale to fight poverty.
“(Postal service company) Correios should be sold quickly as it risks becoming irrelevant in two or three years. The same applies to Petrobras … We must privatize Correios, Eletrobras and keep in mind that (the rationale) also applies to Petrobras, to our whole portfolio,” Guedes said.
(Reporting by Marcela Ayres; Writing by Gabriel Araujo; Editing by Louise Heavens)
