ESPACIO PUBLICITARIO
CARACAS, Monday May 05, 2014 | Update
 
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El Universal in state of emergency amidst lack of newsprint

Since authorities have failed to issue timely the so-called foreign currency purchase authorization, the latest newsprint shipment forwarded to El Universal daily newspaper has not been cleared by customs

EL UNIVERSAL
Monday May 05, 2014  02:48 PM
The extinct Foreign Exchange Administration Board (Cadivi) –now revamped as the National Foreign Trade Centre (Cencoex)- has incurred in unthinkable delays in the issuance of authorizations for purchasing foreign currency. Consequently, a newsprint cargo forwarded to El Universal daily newspaper –which is vital for the daily operations of the news outlet- has not passed through customs. Therefore, El Universal has decided to take urgent steps and is further rationing newsprint.

The legal status of El Universal's newsprint reels is known as in-bond. This means a special regime of temporary customs storage that ends when the purchase of foreign currency is approved. The imported shipment can be cleared by customs only upon approval.

Consequently, El Universal has resolved to cut down its print edition to only two eight-page sections. In this way, some of the customary topics published in print will be available only on the website and other platforms via eluniversal.com.
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