Government will allocate more R$ 300 million in incentives for popular car

Auto Industry

Provisional Measure will be signed later this Friday

Brasilia DF) – President Luiz Inácio Lula da Silva will sign this Friday (30) the provisional measure that will increase by R$ 300 million the resources to be made available for the incentive program for the purchase of popular vehicles.

The announcement was made by the vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin, during a visit to Paraná. “President Lula will sign today a provisional measure allocating another R$ 300 million to the automobile industry”said Alckmin, referring to the project that encourages discounts on the purchase of vehicles priced at up to R$ 120,000.

“In the complete project, it is BRL 500 million. R$ 420 million have already been consumed. The rest, the other BRL 300 million, is actually a little less because you have to deduct IPI, PIS and Cofins from there – it is also open to legal entities, in addition to individuals. That is, now it is for everyone. Then go [totalizar] BRL 800 million”

he added.

The extension of the program had already been announced by the Minister of Finance, Fernando Haddad, on Wednesday (28). On the occasion, the minister said that the demand for more economical and less polluting cars surprised automakers and the government, practically exhausting the resources available for the program.

*With information from Agência Brasil

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