Venezuelan Government Seizes Toilet Paper Factory Amid Shortage
"The temporary occupation of Manpa (Manufactora de Papel) is aimed at verifying that toilet paper industry production, marketing and distribution" are all in line with state policies, Vice President Jorge Arreaza said on Twitter, without indicating how long the takeover would last.
He said the decision had been taken by an economic panel sworn in last week by President Nicolas Maduro, a close ally of Communist-ruled Cuba.
OPEC member Venezuela has vast crude oil resources, sitting atop the world's largest proven reserves.
But efforts to centralize its economy like Havana have seen the country reach an inflation rate of 32.9 percent, and a toilet paper shortage rate of 20 percent, according to government data.
Even hospitals have reported food shortages, while citizens routinely deal with shortages of coffee, flour, sugar or personal care basics like toilet paper.
Venezuela imports half the food it consumes, and the government also has been taking over large farms hoping it can boost domestic production and supply.
Maduro last week claimed the White House is plotting the "collapse" of his government next month by sabotaging food, electricity and fuel supplies.
Maduro's predecessor, the late Hugo Chavez, also made regular claims about several alleged US plots to kill him.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market