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  • Congressman Henrique Fontana (Left) hugs former Brazilian President Lula.

    Congressman Henrique Fontana (Left) hugs former Brazilian President Lula. | Photo: Twitter / @HenriqueFontana

Published 23 May 2018

Congressman Henrique Fontana described the move to end Brazil'Sovereignty (Social) Fund as being "absurd."

Congressman Henrique Fontana, representing the state of Rio Grande do Sul, has criticized the government of senate-imposed Brazilian President Michel Temer for bringing an end to the Sovereignty (Social) Fund.

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Describing the move as being “absurd” on his official Twitter account, Fontana emphasized that the “objective of the fund was to operate as a savings account for Brazil to invest in education by 75 percent and healthcare by 25 percent.”

Created in 2008 during the administration of former Brazilian President Luiz Inacio 'Lula' da Silva, the Sovereignty(Social) Fund was established as a social savings program where funds attained from the sale of pre-salt deposits discovered off the coast of Rio de Janeiro used “to ensure that future generations attain a higher degree of education.”

“The end of the fund, which aimed to guarantee education and healthcare for future generations is yet another attack of the coup against our sovereignty,” Fontana noted. “Temer and coup-mongers continue attacking achievements made by the Brazilian people. It's another crime against the homeland, which robs part of our future and project for the nation.”

Earlier this month Fontana, denounced the Congressional Joint Commission for voting in favor of Provisional Measure 814/2017 (MP-814), which authorized the privatization of Eletrobras and six of its subsidiaries.

“This is a report that determines the increase energy bills by roughly 5 percent. It facilitates the privatization process and sale of Brazilian public property. Even worse, it proposes that 20 percent of the Social Fund, money derived from Pre-Salt oil and Pre-salt gas that, until this moment, was reserved for investment in education and healthcare, will be withdrawn to finance a gas pipeline construction program,” he said.

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