Home / Knowledge / News / Textiles / Venezuelan govt signs fair prices deal with textile firms
Venezuelan govt signs fair prices deal with textile firms
05
Apr '14
courtesy: Venezolana de Television
courtesy: Venezolana de Television
The Government of Venezuela has signed an agreement with 17 private companies for establishment of fair prices, so that these products can be more acquired by the citizens.
 
The 17 signatory private companies, which are engaged in import, distribution and marketing of clothing and other household items, said the application of fair prices is necessary for balancing the economy.
 
During the meeting with representatives of the private companies, President Nicolas Maduro said the agreement is overwhelmingly good and practical.
 
The companies that have agreed to improve their sales rate by applying fair prices are Grafiti, Tijerazo, Traki, Tiendas Macuto, Centro Beco, EPK, Zara, Pull&Bear, BSK, Arcadia, Abismo, Tennis Shop, Planeta Sport, Aldo, Helly Hansen, Timberlant and Volpe.
 
The signing of the agreement should result in balancing the prices and break heavy profiteering, President Maduro said, and urged everyone to work together for real and permanent prosperity of the country.
 
The Organic Law of Fair Prices, which came into effect on January 23 this year, has been designed by a team of lawyers, and was approved by President Maduro as a tool to address the wave of speculation that occurred last year making the country’s traders sell essential products with prices up to 2,000 percent more than their real value.
 
The Fair Prices law sets a maximum upper limit of 30 percent on production cost to ensure fair prices.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search