Venezuelan Congress seeks reform of law on oil windfall revenues
The bill submitted by the Venezuelan Parliament's Secretariat was okayed by the Finance Committee with no modifications whatsoever
The proposal was approved with no objections whatsoever. Ruling party legislators in the finance committee suggested holding a second discussion in the plenary session.
Opposition deputies, however, claimed that the bill failed to comply with all the constitutional procedures of public consultation. They argued that it was only posted on the National Assembly's website on Tuesday, and that the financial contributions set forth in the reform are intended to create a fund similar to the National Development Fund (Fonden), rather than establish a savings fund to prevent any macroeconomic disturbances.
The second reading of the bill is taking place on Wednesday afternoon in a special meeting convened for such purpose.
Translated by Jhean Cabrera
María Fernanda Astudillo is a store analyst for Alimentos Polar working at the company's facilities in La Yaguara. At only 23 years of age, she has made a career in that company where she has worked for the last six years. Now, besides her responsibilities, which include overseeing shipping/receiving and warehousing of goods, she is taking part in the roundtable discussions among the other companies operating in the La Yaguara industrial park, the Government and the workers exploring possible ways of coping with the order to expropriate the land.