Home / Knowledge / News / Textiles / Venezuelan govt signs fair prices deal with textile firms
Venezuelan govt signs fair prices deal with textile firms
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

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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