Venezuelan agency to punish firms providing "false" information

The National Superintendence of Fair Costs and Prices (Sundecop) will penalize companies that have provided "false or incomplete" information to the Automated System of Price Administration (Sisap), said Yujhara Cabrera, Sundecop's director of Supervision and Inspection. "There is some disparity in the data. The Law on Costs and Fair Prices makes explicit reference to this situation in Article 44, section 4", Cabrera said, as reported by Sundecop's website.

Companies producing or distributing "priority items," whose prices were frozen last November, should complete registration with Sisap. Cabrera added that following inspection of some of those companies, Sundecop found that the information provided "does not always match the data entered by retailers."

She also said that some companies have registered in Sisap but did not provide all the required data.