Caracas, May 3rd 2012 (Venezuelanalysis.com) The Venezuelan government has announced that it will create a national network of low price pharmacies across the country in an attempt to combat the effect of inflation on the price of medicine for Venezuelan citizens.
In a “mixed-business” initiative between the Venezuelan state and the country’s private pharmaceutical sector, Vice-president Elias Jaua confirmed that over 300 new pharmacies will be set up under the name of “Farmapatria” where medicines will be sold at well below the “speculative private market price”. “It’s a very important decision,” said Jaua.
The move forms part of a broader initiative by the government to combat private sector speculation on essential products, with the Chavez administration having passed legislation earlier this year establishing maximum selling prices for a range of items including over 1000 medicines, deodorant and bottled water.
The Vice-president went on to state that the Venezuelan executive had also approved over 21 billion bolivars (US$4.8 billion) for one of the state’s mixed construction businesses in Guatire, Miranda state, which is currently producing cement blocks and bricks for the country’s housing mission.