Brazilian President Luiz Inacio Lula da Silva held a meeting with employees of the waste management sector. The head of state announced investments in the industry worth 425.5 million Brazilian reals (US$7,86 million). This is reported by
Metropoles, a partner of TV BRICS.

The funds will be used, among other things, for the implementation of the recycling programme. The Brazilian authorities have adopted a law on tax incentives for market participants who are part of the recycling chain.

“Both individuals and companies that are involved in waste collection and recycling should have access to incentives. Their salaries and income will increase,” Environment Minister Marina Silva said of the initiative.

The government estimates that the new law could result in companies in the industry being exempted from fees totalling R$306 million Brazilian reals (US$56,53 million) in the first year of its implementation.

Photo:
iStock