President of the Council of Public Finances (CFP) Nazaré Costa Cabral said on Thursday that the Portuguese should be concerned about the sale of TAP and the consequences of this operation for taxpayers.
The TAP issue was mentioned by the President of the CFP in response to the deputies of the Budget and Finance Committee, where it was heard as part of the specialty discussion of the draft State Budget for 2023 (OE2023).
“We do not know the details of what is expected to be done either in the process of restructuring TAP or in terms of privatization of the company, but it is clear that the situation with TAP worries us,” Nazaré Costa Cabral began.
According to him, TAP “is the so-called flagship company”, and the question that arises at the moment is “how the company will be sold, at what price, on what terms and to whom.”
“I think these are issues that should start worrying the Portuguese, because the company is very heavily indebted, it is a company that has financial debt and by the way, some of them expire next year, so it is important to see under on under what conditions this sale will be realized and what consequences it may have for taxpayers and the Portuguese,” said Nazaré Costa Cabral.
When asked about Novo Banco, the CFP president said that “there is a remnant of the conditional capitalization mechanism that can still be used, but it is clear that this will depend on the financial position of the bank.”
Nazaré Costa Cabral said, however, that he had no information “that this mechanism will be activated again, especially since an additional mechanism may be activated.”
Author: Lusa
Source: CM Jornal
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