Caixa Econômica Federal (CEF) clarified in a recent statement that the privatization of the lottery service depends on the approval of the National Congress. The service is currently provided exclusively by the bank.
The declaration followed an appeal from Caixa employee associations. The entities are firm in their position and do not wish to transfer lottery operations to a subsidiary. They appeal to the bank’s board to deny such a request.
Privatization of Caixa lotteries is a solution against “bets”
Caixa highlighted that the operation of lotteries is a public service and, at the federal level, it is permitted by the Federal Constitution only to the Union. But the Union assigned the execution of lottery modalities to the bank, in accordance with the rules and guidelines set out in current legislation.
Therefore, the privatization of Lotteries would depend on a specific law, approved by the National Congress, regardless of which company is its operating agent.
A group of bank employee associations sent the president of the Caixa Council, the Secretary of the National Treasury, Rogério Ceron, a request for the body’s members to vote against the transfer of the lottery operation to Caixa Loterias.
The company is a wholly owned subsidiary of the bank, created to manage the lotteries. The vote on the transfer of lotteries from Caixa to the subsidiary is scheduled for this Monday (15).
Why employees are against
Entities are on alert. According to them, the current operation threatens Caixa’s public character. Below are the three main reasons for bank employee dissatisfaction:
- 1st. The operation would represent an outsourcing. Thus, the management of lotteries, currently under the direct responsibility of Caixa, would pass into the hands of third parties. This change could transform the way the service is provided and managed.
- 2nd. There is the issue of resource transfer. Lotteries are an important source of financing for public policies. So, if the operation is outsourced, this could threaten the transfer of these resources to the federal government.
- 3rd. The entities warn of the possibility of possible privatization. Outsourcing could open up opportunities for part or all of the company’s capital to be sold. Therefore, this could lead to the privatization of Caixa, an institution that plays a fundamental role in the Brazilian economy
In other words, the associations express concern that this change could facilitate the path to a possible privatization of the service, whether through the partial or total sale of the company.
Caixa, in turn, claims that the operation will give the bank greater agility to modernize lotteries. This is because the state bank has suffered from direct competition from online bookmakers, the so-called “bets”, in recent years.
