Venezuelan President To Expand Price Controls
- OurStudio
- Nov 12, 2013
- 1 min read
Venezuelan President Nicolas Maduro wants to put price controls on all consumer goods.
From the BBC:
Venezuelan President Nicolas Maduro says he plans to extend price controls to all consumer goods, if he is given powers to govern by decree. In a televised address, Mr Maduro said that he wanted to set legal limits on businesses' profit margins.
The news comes after electronic stores accused of selling products at inflated prices were seized in Venezuela.
From the Los Angeles Times:
Venezuelan President Nicolas Maduro ordered the "occupation" of a chain of electronics stores after the socialist government accused the company of overcharging its consumers. Troops went to the Daka chain's five stores and ordered the company to start selling its products at lower prices, Reuters reported. Several managers of the company were arrested.
What could possibly go wrong?
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