Brazilian President Michel Temer on Friday signed a bill designed to facilitate the privatization of electric power utilities currently under the umbrella of government holding company Eletrobras. The bill will cut red tape and accelerate the calendar for eventual sale of some Eletrobras assets. The state-run utilities holding company is facing daunting debts. The bill also provides for a wider distribution of investment funds for utilities. Temer vetoed 17 provisions of the bill as passed by Congress, including a clause providing incentives for the coal industry.
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