Sunday, April 6, 2014

Getting Worse in Venezuela

The ID card, introduced this week, will limit Venezuelans to once-a-week shopping and will set off an alarm to halt any transaction if a purchaser breaks the rules. The government wants to prevent individual shoppers from "over-buying" in a country hit by acute shortages of basic items including milk, sugar and toilet paper. Critics say it is an admission of failure of economic policy in one of the world's big oil-producing nations.

By keeping a record of what is purchased and limiting shopping trips, the electronic card is supposed to curb hoarding and prevent speculative shoppers from buying to resell at a profit. But the larger aim is to halt the huge outflow of food to neighbouring Colombia, where it sells for up to 10 times as much. It is estimated that almost 40% of Venezuela's food is transported illegally across the border.

[...]

According to the food minister, Félix Osorio, registering for the card will not be mandatory and regular users may still shop at the network of subsidised food chains. But as with many customer loyalty programmes, cardholders will benefit from even lower prices, extra offers and even enter a raffle to win one of 500 houses in Venezuela's largest public housing programme.

  Guardian
Then I don’t see how that’s going to stop the illegal selling to Colombians or the food speculators.

...but hey, do what you want...you will anyway.

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