Bogota, November 16, 2017 (venezuelanalysis.com) – Venezuela’s National Constituent Assembly (ANC) approved the first six articles of a bill entitled the Law for Agreed Prices Tuesday, aimed at tackling the country’s severe economic crisis.

The proposed legislation was presented to the assembly by President Nicolas Maduro back in September and is currently being discussed and reviewed by the constitutional body.

According to ANC President Delay Rodriguez, the bill is aimed at “extending a hand to the private sector that wants to advance in national production and development” and deterring a “minority of businesses that are waging an economic war against the people”.

“This is a law for understanding through dialogue and co-responsibility,” she declared.

Though the six articles approved so far do not include any concrete economic measures, they state that the potential legislation seeks to “establish a policy of agreed prices, based on the principles of social peace, democracy, co-responsibility, social justice, citizen participation, social auditing, human rights and efficiency”.

The bill is also aimed at “stimulating good practices in production, distribution, and commercialization” in the country’s food chain, as well as “guaranteeing people’s access to goods and services” and ensuring Venezuela’s food sovereignty.

When finally approved, the proposed legislation will be applied across all sectors involved in food production, distribution and marketing, and will promote dialogue and agreements between the public and private sectors.

Since the United Socialist Party won a majority of governor seats in regional elections on October 15, its supporters have been urging the ANC to take immediate action in relation to the country’s economic crisis and to stem ever-rising inflation. Nonetheless, the body has been criticized for being far too slow in adopting the much-needed economic measures.

Sugar Production

Meanwhile, President Nicolas Maduro also announced a plan to increase sugar production Tuesday from a meeting with hundreds of employees in the sugar industry and members of Workers’ Productive Councils in Caracas.

“All crop sectors, all productive areas of the country, must be submitted to a process of productive re-organization as you (workers) are doing with sugar,” he told participants.

“That is why I announce the creation if a micro-productive mission in the sugar sector to unify all work and production,” he added.

The mission will be coordinated by Defense Minister Vladimir Padrino Lopez.

The sugar company C.A Central La Pastora in Lara was brought under state control in early October due to allegations that its owners were involved in import fraud. Several sugar mills and processing plants were also nationalised by the Hugo Chavez government prior to 2013.