12/04/2008 10h10
PACs funds to increase 26%, to US$ 276.6 billion
Gazeta Mercantil - 12/04/2008
The investments of the Growth Acceleration Program (PAC) will have an increase of 26%, with additional funds of R$ 132.2 billion (US$ 57.5 billion) until 2010. In January of 2007 the Government announced the program would required R$ 503.9 billion (US$ 219.1 billion), with the increase this amount will go up to R$ 636.2 billion (US$ 276.6 billion). The announcement was made yesterday by the Minister of the Civil Office, Dilma Roussef, during a public hearing in the Finance and Tax Commission of the Chamber of Deputies . Besides this injection of funds, the Minister announced that after 2010, when the term of office of the president is over, the PAC will receive another R$ 474.8 billion (US$ 206.4 billion), against the previous forecast of release of R$ 189.2 billion (US$ 82.3 billion). A leap of 151%. According to the Minister, the greater investments will be in the sectors of oil, gas, railroads, thermoelectric plants and investments in the tests of the pre-salt layer. The sector that will require more funds is that of oil and natural gas. The Minister affirmed again that the investments in the PAC are a priority for the Government and that to face the crisis the Government will cut its costing. Dilma emphasized that one of the areas that will receive more releases of funds is the pre-salt layer testing. The pilot project of exploration of the Tupi field, in the Santos Basin will receive US$ 9.3 billion (US$ 4 billion). The Minister said the expectation of the Government is that this field has reserves exceeding 8 billion oil barrels, as it has been announced. The Minister also said that only the pilot project for this basin will produce 100 thousand barrels of oil and four million of cubic meters of gas per day.
