IL leader Rui Rocha accused the government on Wednesday of burying 400 million euros in Efacec, an amount that, he said, exceeds the amount in the 2024 state budget “for the entire economy for one year.”
“Between direct injection, deliveries and obligations, it is now known that the government of António Costa has buried 400 million euros of the taxpayers in Efacec,” says Rui Rocha in a message published through his account on to deal with “another huge drain of taxpayer money, sponsored by socialists.
Parpública (state-owned company) sold the entire Efacec (nationalized in 2020) to the German investment fund Mutares on Tuesday, following approval from the European Commission.
The state invested a further 160 million euros in the company, with the government explaining the privatization of Efacec, which without clean-up work, during a press conference between the Minister of Economy, António Costa Silva, and the Secretary of State for Finance, João Nuno Mendes if the financial situation of the company changed, he would not be able to sell it.
This amount is in addition to the 200 million euros that the State has already invested in the company over the past twenty months (to pay fixed costs, including salaries). Still at state level, Banco de Fomento has 35 million euros in bonds (convertible into capital) from Efacec.
Commenting on the outcome of the sale of Efacec, the leader of the Liberal Initiative compared these values with the amount that the State Budget for 2024 (OE2024) channels into the economy.
“If we take into account the 180 million euros for capitalization and other separate programs, with good will we can reach 300 million euros going to companies in the 2024 state budget. António Costa has invested 100 million more in one company than he expected in the budget. State budget for the entire economy for one year,” the Liberal leader wrote, lamenting that the Economy Minister believes today “is a happy day.”
Mutares expects Efacec to break even within five years and has an obligation to remain in the business (without selling) for a minimum of three years. Efacec has approximately 2,000 employees.
Source: DN
