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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.750-14.5%Dec 5 3:59 PM EST

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To: David Petty who wrote (11189)1/5/1999 3:15:00 PM
From: Steve Fancy  Read Replies (2) of 22640
 
Senate's new leader expects CPMF to be approved tomorrow

Jan/05/99 at 01h22 pm ET

Brasília, 5 - After meeting with the Senate's president, Antônio Carlos Magalhães, and the Defense minister, Élcio Álvares, the senator Romeu Tuma (PFL-São Paulo) announced he was indicated the new government leader in the Senate.
Tuma also said that his name was suggested by minister Álvares, who left his post as the leader of the Senate himself to take charge of Brazil's Defense Ministry.

Tuma further stated that he expected the approval in the Congress on the Temporary Financial Transactions Contribution (CPMF) hike -- considered a key measure to be incorporated in the government fiscal adjustment program (PEF) -- to occur by tomorrow.

According to the new government leader in the Senate, the measure will be voted "in case there is enough quorum to get it passed through Congress".

The minimum quorum in the Senate is formed by 81 senators. "If the government fails to reach the minimum quorum in the Senate tomorrow, we will concentrate all our efforts to approve the matter on Thursday," he informed. "The CPMF is the government's first priority."

The Senate's president, also known as ACM, also agree with Álvares. ACM told reporters he would do all he can to vote the hike of the CPMF still tomorrow, and get it passed in the first-round of voting. According to him, if there is any problem, the matter "without any doubt" will be voted again next week. (By Nélson Breve)




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