The Minister of Finance, Fernando Haddad, said this Monday (12/8) that the National Treasury is in charge of the Correios restructuring plan and that there would be room for the Union to contribute to the public company, but this is something that has not yet been decided.
He also said the contribution would amount to 6 billion reais, but stressed that the negotiations were not over. According to Haddad, the value could be foreseen both in an extraordinary credit and in an invoice.
The minister also said that the other part of the amount needed to recover Correios can be obtained through loans, but it will still be necessary to negotiate with the banks.
This statement was made at the exit of the Ministry of Finance, in Brasilia.
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Understanding the postal crisis
Correios is going through one of the most delicate phases in its recent history. After years of accumulating losses running into billions of dollars, the state-owned company is facing declining correspondence volumes, rising operating costs and difficulty competing with increasingly structured private companies.
The crisis has been worsened by failed strategic decisions made in recent years, as well as political pressures and regulatory changes.
One of the factors that had the biggest impact on liquidity was the “blouse tax,” which changed import rules and reduced the volume of international shipments handled by the state-owned company. The drop in these revenues has contributed to widening the financial hole and exposed the risk of dependence on a volatile segment.
Faced with this scenario, the government is trying to find alternatives to stabilize the company and avoid operational collapse. Among the options studied are partnerships with the private sector, a review of contracts, cost reductions and a technological modernization plan.
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