Monday, January 27, 2014

Venezuela guns for profiteers with price controls

The Fair Price Law, which carries out many of the same functions as the almost identically named Fair Price and Cost Law of 2011, appears to unify a disparate set of controls that were first created by Chavez in 2003. It sets a maximum profit margin of 30 percent and requires firms to obtain “fair price certificates” to access dollars through the country’s currency control mechanism. More...

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