Venezuelan Congress seeks reform of law on oil windfall revenues
The bill submitted by the Venezuelan Parliament's Secretariat was okayed by the Finance Committee with no modifications whatsoever
The proposal was approved with no objections whatsoever. Ruling party legislators in the finance committee suggested holding a second discussion in the plenary session.
Opposition deputies, however, claimed that the bill failed to comply with all the constitutional procedures of public consultation. They argued that it was only posted on the National Assembly's website on Tuesday, and that the financial contributions set forth in the reform are intended to create a fund similar to the National Development Fund (Fonden), rather than establish a savings fund to prevent any macroeconomic disturbances.
The second reading of the bill is taking place on Wednesday afternoon in a special meeting convened for such purpose.
Translated by Jhean Cabrera
The very early morning after the presidential election (April 15), both candidates requested the National Electoral Council (CNE) to conduct a full audit of the process: one, Henrique Capriles, because he asserts that the election results are different from the ones announced, and the other one, Nicolás Maduro, in order to clear any doubt regarding his victory, and to reinforce his political stance. Nevertheless, as it is already known, President Maduro changed his mind.