Lula announces new PAC with six main axes – 04/10/2023 – Market

President Luiz Inácio Lula da Silva (PT) said this Monday (10th), marking his 100th day in office, that the new PAC (Growth Acceleration Program) will have six structural axes: transport, social infrastructure, digital inclusion and connectivity, urban infrastructure, water for all and energy transition.

According to the Chief Executive, the federal government received a list of priority works from the governors, and the ministries are identifying other structural investments.

“We have resumed long-term planning capacity, this planning will be translated into a large program that brings back the role of the public sector as a inducer of strategic investments in infrastructure. slow pace, in addition to selecting new strategic investments for the whole country,” said Lula, during a ministerial meeting at the Planalto Palace.

“By the beginning of May we will announce the definitive list of undertakings and mechanisms that will make them quickly get off the ground, generate millions of jobs that we all dream will happen in this country”, he added.

Before the modeling was closed, Minister Rui Costa (Casa Civil) said that the reissue of the program will work through PPPs (Public-Private Partnerships) and concessions.

“We are going to take advantage of the experience we already had in the PAC and concession programs to improve these mechanisms, making them even more efficient, to articulate even more efficiently public and private investments and the financing of official banks in the same direction: that of development with social inclusion and environmental sensitivity”, said Lula.

In a meeting in March, the president demanded creativity from his ministers when he heard from Paulo Pimenta (Secretary of Social Communication) the suggestion that the future program of works be baptized as “new PAC”.

“The PAC was very important, it created a lot, but if we could create a new name it would be important. [Para] Show that we are innovating”, said the president at that meeting.

On the same occasion, Lula stated that “good money is money turned into work”, and that ministers Fernando Haddad (Finance) and Simone Tebet (Planning) would raise money to carry out the investments.

The first version of the program was launched in 2007 and became a showcase for Lula’s second term. The PAC is defended by PT members as a driver of economic growth through investment in large infrastructure works.

The program helped Dilma Rousseff (PT), then Chief of Staff, to be elected president in 2010, after being presented as the “mother” of the package.

But the PAC also experienced problems such as delays, lack of completion of works, price increases during execution, abandonment by builders and acceleration of public spending.