BRASILIA, April 12 (Reuters) - The privatization of Brazil’s largest utility Centrais Eletricas Brasileiras SA, known as Eletrobras, is the government’s top priority, Finance Minister Eduardo Guardia said on Thursday after the first meeting of a reshuffled cabinet.
Guardia said the government is drawing up a decree to sell Eletrobras, an operation it hopes will yield 12 billion reais ($3.5 billion), and the measure will be negotiated with Congress. He said he will present a proposal to simplify the PIS/COFINS payroll and social security taxes at the end of April.
$1 = 3.3862 reais Reporting by Anthony Boadle
