43597
Venezuela Ends 2-Day Work Week
World Economy

Venezuela Ends 2-Day Work Week

Venezuela’s socialist government has eased a nationwide energy-saving program, bringing an end to a controversial two-day work week that was introduced in April for nearly three million public sector workers.
Electricity Minister Luis Motta said that thanks to rising waters at the Guri reservoir, which supplies two-thirds of the OPEC country’s electricity, state workers would return to work until 1:00pm on Wednesdays, Thursdays and Fridays, Reuters reported.
Weekend electricity rationing would also end, and schools—which had been closing on Fridays as another energy-saving move—would return to opening for the whole week, Motta said. “We are winning!” he posted on Twitter.
Officials said the measures were an emergency response to drought this year and have helped reduce energy consumption in Venezuela, a nation of 30 million people.
However, critics including the opposition coalition slammed the moves, saying closing schools for one day a week prejudiced children, and sending state employees home made no difference because they would simply use appliances elsewhere.
They say the socialist government is to blame for electricity shortages because of corruption, lack of investment and poor management, rather than the El Nino weather phenomenon.
Power and water cuts in recent months have added to the hardships of Venezuelans, already enduring a brutal economic slowdown, shortages of basics from milk to medicines, soaring prices and long lines at shops.
A kilo of pasta gets you a packet of diapers. A bag of flour buys a bottle of shampoo. Short on basic supplies, Venezuelans have reverted to ancient shopping habits: bartering whatever they have.
Venezuela’s economy has plunged in line with the price of the crude oil exports on which it relies, as the government’s state-led economy sputters from shortage to shortage.

Short URL : http://goo.gl/fH9upo
  1. http://goo.gl/4lwbp0
  • http://goo.gl/ME3IGZ
  • http://goo.gl/Jp6ouH
  • http://goo.gl/LlILqB
  • http://goo.gl/Q4PfPD

You can also read ...

China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Trending

Googleplus