Brazil’s Ministry of Economy hasn’t decided yet on a measure to support the ethanol industry amid the impact of the coronavirus and low gasoline prices on demand, according to Brazil’s Veja.
The special secretary to the Ministry of Economy, Waldery Rodrigues, said on May 1 that the Ministry hasn’t decided on an increase in taxes on gasoline and that the Ministry of Mines and Energy would also need to approve the measure.
He added that “at an opportune time”, the Minister of Economy Paulo Guedes and the Minister of Mines and Energy Bento Albuquerque will evaluate the matter.
The Ministry of Mines and Energy told the report that it was still studying measures for the ethanol sector.
Congressman Arnaldo Jardim said earlier on May 1 that the increase in the Cide tax on gasoline had been approved by the government and was expected to be announced on May 4.