News Blast Venezuela 07.01.10

President Chavez this year will contemplate accelerating legal reforms that intend to regulate the financial system. Economy and Finance Minister Ali Rodriguez Araque notified Parliament's Finance Committee Chairman Ricardo Sanguino that in the upcoming session the General Banking and Capital Market Acts will have to be reviewed. The MP said there are "legal arrangements to prepare a different concept of banking, and evaluations that will determine the adjustments made." Parliament members will meet with the head of public finances to discuss the points to be changed. The president said in a speech that laws for public banks should be given a separate treatment since they are separate entities from private banks.

U.S. Congressman Connie Mack urged President Obama to include Venezuela on the list of countries whose travelers receive additional security review if they wish to travel to the United States. Connie Mack said that "while the U.S. government redoubles better security for passengers coming from countries with a lack of efficient border security, I strongly urge the Administration to add Venezuela to this list." Mack criticised Venezuelan authorities for refusing officials of the U.S. Transport Security Administration (TSA) who waned to conduct inspections of security tasks for flights departing Venezuela into the United States.

Pedro Rondón, the representative for "B" class shareholders of Siderurgica del Orinoco "Alfredo Maneiro" (Sidor), expressed concern Wednesday about the possibility of closures occurring in the steel industry as an upshot of the power crisis in the country. In an interview with Globovision he explained that this could cause paralysis of the power lines in the industrial park in Valencia, in Carabobo state. "Only with the closure of two furnaces of Siderurgica del Orinoco will the lines cease operating, which would affect the entire industrial park in Valencia," he said. He explained that the industrial park in Valencia manufactures cans for sardines and milk, as well as parts for cars, trucks and air conditioners.

Production of metric tonnes of meat has declined 60 percent from 2006 through the end of 2009, according to estimates by the National Farmers Federation (Fedenaga) in their report "Livestock Sector 2009". The study notes that in 2006 domestic production reached 442,654 metric tonnes, while in 2009 it fell to 179,007 tonnes. Meanwhile, in 2006 136,205 metric tonnes of meat were imported, a figure which by 2009 increased to 380,033. Given these figures, Fedenaga once again called on the national government to rely less on external production, which in 2009 occupied 68 percent of national consumption. The cattle industry estimated that in 2009 every Venezuelan consumed 20.5 kilograms of meat, 12.5 kg of which were imported, and warned that if there is no official policy change and the trend of the last four years continues, there will be no meat production by 2013 in Venezuela.

Fishermen on the eastern coast of Lake Maracaibo are on alert for maintenance and environmental control. They have not only observed the oil stains left by oil spills and gas leaks from pipes, but now parts from the pipes themselves that should be fixed at the bottom of the water are bubbling to the surface. Nerio Romero, Member of Legislative Council of Zulia state, toured with those affected regions to verify the pollution situation. "There is an environmental disaster. PDVSA has to answer for the ecocide it has committed from its lack of control." About 30 fishermen from Santa Rita led Romero to conduct the inspection of Lake Maracaibo. The inspection for the time being was carried out only on the eastern coast. "There will be an assessment on the western side of the Lake as well and we will issue a report." Romero said that between Cabimas and Tia Juana "a pipe is floating." He did not know if it was for gas or oil, but what is clear is that "it should be on the floor of the lake." The fishermen fear that there was an accident that will worsen what has already been a broad decline in the fishing industry.

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The objective of Venezuela Report is to provide quality information, reports, news, translations, and original opinion and analysis articles in both English and Spanish, with the goal of bridging the significant gap between the political dialogue in Venezuela and the rest of the world, and raising awareness of the problems and challenges we see in both the legal system and governing model. ...

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