The Venezuelan government has announced a number of measures in recent days to combat currency and price speculation, both of which have become increasingly problematic in recent months.
By Luigino Bracci Roa – El Espacio De Lubrio, Feb 11th 2013
In light of Venezuela’s recent currency devaluation, Venezuelan blogger and technology activist Luigino Bracci Roa argues that a change in attitudes towards consumption and technology is required.
Over 4,000 companies have registered their pricing structures with the Venezuelan government’s Automated Price System (Sisap) as part of the latest phase in the new Law of Fair Costs and Prices. The law allows the Venezuelan state to set prices across a range of economic sectors in a bid to ensure access to goods and services for the Venezuelan people and to combat hoarding and price speculation by private companies.
Since confronting Italian company Parmalat over its hoarding of milk last week, and fining Swiss transnational Nestle for the same, the Venezuelan institution Indepabis has announced that it is going on the offensive to get hoarded milk to the people.
The Venezuelan government is to establish a new system for the distribution and sale of nationalised cement, and has also announced an increase in regulated cement prices.
On Thursday those involved in the fight against price speculation in Venezuela held an educational forum in Caracas to help consolidate the 500 popular “Committees against Speculation” established to support government efforts against unfair pricing practices.
Yesterday Venezuelan President Hugo Chavez used his standing legislative authority to sign into law a new price control mechanism aimed at putting an end to speculation and hoarding.
Venezuela’s National Assembly approved, in the first round of discussion, a new reform to the Law against Illicit Exchange on Tuesday in order to curb speculation after the Bolivar currency fell further in the parallel market.
After officially devaluing the national currency last Friday, the Venezuelan government announced a series of measures to increase the country’s exports, substitute its imports, boost electricity production, and combat price speculation, as purchasing frenzies sprung up in several major cities on Monday. However, union leaders have reacted with concern to the devaluation and recommended wage increases.
