Venezuela Troops Seize Shops over High Prices

TEHRAN (Tasnim) - Venezuelan soldiers have been sent into a chain of electronics stores in a campaign by President Nicolas Maduro's socialist government to stop an "economic war" of what it says are unjustified spiraling prices.

Venezuela Troops Seize Shops over High Prices

Authorities on Saturday arrested managers of the Daka chain, sent troops to occupy its five shops and forced the company to introduce cheaper prices.

That brought crowds to Daka's shops and sparked looting at one store in the central city of Valencia, Al Jazeera reported.

Maduro, who accuses rich businessmen and right-wing political foes backed by the US of waging an economic war against him, said the occupation of Daka was simply the "tip of the iceberg" in a nationwide drive against speculators.

In a speech to the nation on Saturday evening, he said looting in Valencia was an isolated incident and the real criminals were unscrupulous businessmen exploiting Venezuelans with unjustified price rises.

"The ones who have looted Venezuela are you, bourgeois parasites," Maduro said, accusing Daka of raising some prices of products beyond 1,000 percent of cost.

"We're going to comb the whole nation in the next few days. This robbery of the people has to stop," Maduro said. "You've not seen anything."

He showed particular astonishment at a washing-machine on sale for 54,000 bolivars - $8,571 at the official exchange rate of 6.3 bolivars to the US dollar.

Maduro's move against Daka, after weeks of warnings of a pre-Christmas push against private businesses to keep prices down, recalled the sweeping takeovers during the 14-year government of his predecessor, Hugo Chavez.

Soldiers organised hundreds of people into queues at Daka's store in Caracas, then called them in one by one.

Most Visited in Other Media
Top Other Media stories
Top Stories