Amid the crisis at Correios, the federal government created a mechanism so that non-dependent federal state companies (with their own revenue) in difficulties can reorganize their accounts without being automatically classified as dependent on the National Treasury. A decree published this Tuesday (9) in an extraordinary edition of Official Gazette of the Union changes rules on the transition process between dependent and non-dependent state-owned companies. 
The proposal was prepared by the ministers who make up the Interministerial Commission for Corporate Governance and Administration of Corporate Interests of the Union (CGPAR).
What changes
The text introduces article 18-A, which allows non-dependent state companies, but with operational problems, to present an economic-financial rebalancing plan. This plan may even provide for future contributions from the Union, as long as they are punctual, to help restore balance to the accounts.
In a note, the Ministry of Finance informed that the idea is to create a structured route for these companies to deal with cyclical crises without this immediately resulting in their reclassification as dependents, a situation that would require recurring transfers from the Treasury.
Stricter rules and approval steps
For the rebalancing plan to be accepted, the state-owned company will have to present concrete measures to adjust revenues and expenses that guarantee the improvement of financial conditions and preserve its non-dependency condition.
The approval process consists of several steps:
. analysis by the company’s own governance bodies (Board of Directors and, as applicable, Fiscal Council);
. technical evaluation and approval by the ministry to which the state-owned company is linked;
. forwarding to the central body of the state-owned companies’ governance system and final decision by CGPAR, based on technical opinions from the teams that make up the commission.
After approval, the execution of the plan will be monitored every six months by the competent bodies, which will monitor compliance with the goals and schedule.
How it was before
Under previous rules, only non-dependent state-owned companies that had received specific contributions for costs could present a rebalancing plan. The new wording expands this possibility: Now, companies that are experiencing operational difficulties will be able to propose plans with a forecast of future contributions, as long as they do not turn into a permanent subsidy.
According to the government, the update seeks to strengthen fiscal responsibility, improve risk management and offer more predictability to the administration of state-owned companies.
