This measure is a demand from the sector, which assesses that the reduction in intermediation fees for these operations can bring scope for reducing the price of food to the final consumer
The Minister of Finance, declared that the regulation of meal and food vouchers can be an effective strategy for reducing food prices in Brazil. “The regulation of PAT portability, in my opinion, is something that could work well in the short term. You empower workers in what is their right, to seek the best possible transaction to assert their purchasing power”, said the minister. This measure is a demand from the sector, which assesses that the reduction in intermediation fees for these operations could bring scope for reducing the price of food to the final consumer. Haddad considered, however, that not all measures suggested by the sectors will be accepted. “You allow other States to produce that food so that, in the event of a flood or drought, you are not harmed and held hostage by a concentration. This is already underway in the current Harvest Plan and we intend to continue this policy of making cultures, from a geographic point of view, more diversified”, he highlighted.
Haddad also highlighted that the recent fall in the dollar, combined with the expectation of an abundant harvest, could significantly contribute to this reduction. Haddad emphasized the importance of directing vouchers to purchasing food, making better use of these resources. Furthermore, the government is preparing proposals to reformulate the Workers’ Food Program (PAT). One of the main changes will be the introduction of voucher portability, allowing workers to exchange the benefit received from their companies. This measure aims to increase the flexibility and efficient use of vouchers, which currently face limitations.
The minister criticized the current regulation, which is the responsibility of the Central Bank, stating that it has not worked as it should. He pointed out that this situation has generated financial losses for workers, who face high intermediation fees when using vouchers. The proposed change seeks to correct these distortions and improve conditions of use. Finally, the Minister concluded that the combination of a promising harvest and the devaluation of the dollar could result in more affordable food prices.
The minister even cited percentages that varied between 1.5% and 3%, but did not clarify whether they referred to a possible decrease in price or to the intermediation fees charged by companies in the sector. PAT seeks to primarily serve low-income workers, through the government’s incentive for companies to allocate funds to food for their teams. In 2022, the law began to provide for free portability of food payment services, at the request of the worker, but the topic has not been regulated to date. The complete regulation depends on a measure by the National Monetary Council (CMN), made up of the BC, the Treasury and the Ministry of Planning.
*With information from Estadão Conteúdo
Published by Sarah Paula
