The former planning minister defended this Tuesday in parliament that in the privatization of TAP, 100% of the profit was allocated to the private sector and the entire risk to the state.
“[…] The privatization was carried out in a way where 100% of the profit was for the private sector, but 100% of the risk for the state,” said Pedro Marques, speaking in the parliamentary committee on Economy, Public Works, Planning and Housing.
At that time, the PSD/CDS government had already ceased to function, following the rejection of its program by the Assembly of the Republic.
Summoned to the Assembly of the Republic at the request of the PSD, the former ruler stressed that efforts were made in 2015 to “quickly complete” the privatization of TAP before the government took office.
According to the former minister, 61% of TAP was immediately sold, “giving the private sector the right to buy the rest of the company in a short time”, thus preserving the whole.
“However, the errors in the privatization process were very serious and the consequences for the Portuguese state and for the national economy would have been enormous if the process had not changed,” he added.
Pedro Marques also mentioned that David Neeleman, one of the private shareholders of the company, never hid his project from TAP, which was similar to what he did with his previous companies – he valued them only to go through with their sale later.
Also on November 12, he recalled, a consolation letter was signed, committing the state to buy back TAP, in case the private sector defaulted on any payment to the bank.
For the former minister, this letter could be regarded as state aid by the competent authorities.
On the other hand, the private sector could have pushed the company into “unlimited” debt, obliging the state to buy back the company and assume all responsibilities.
“It was with immense strangeness that I saw the Secretary of State for Infrastructure, Transport and Communications, who completed the privatization, the now Vice President of the PSD, Engineer Miguel Pinto Luz, declare here […] that he has not signed any consolation letter and that he does not even know what it is about,” he stressed.
Source: DN
