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

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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