Faría insisted that the mechanism to go to the stock markets and buy the shares of state-owned companies has not yet been designed.
The deputy of the National Assembly elected in December 2020 and president of the Parliament’s Finance Commission, Jesús Faría, denied this Tuesday, May 17, that allowing the placement of a percentage of shares belonging to various state companies in the markets of values is to go against the socialist project promulgated by the PSUV.
In an interview given to VTV, Faría stressed that only a small part of the shares is being offered – between 5% and 10% of various companies such as Cantv, Movilnet, CVG, among others – and that the total control of these national companies continues to be maintained by the State; a measure that according to the parliamentarian what he seeks is that there is income to be able to acquire technology and improve the country’s public services.
He assured that it is in a “tortuous process to go to socialism” and clarified that in order to overcome the economic situation in which Venezuela finds itself, the main task must be to develop the economy and thus generate a better quality of life for citizens. .
Jesús Faría insisted that the mechanism to go to the stock markets has not yet been designed, which will allow the purchase of shares of state-owned companies. However, he advanced that in “normal conditions” anyone can have access to it, whether it is someone who has savings or a company that wants to invest.
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In his opinion, the idea is to take advantage of the strength of private capital so that productive forces are deployed according to the project. In this sense, he commented that in the end the objective is to distribute fair wealth.
He acknowledged that there are pressures on exchange rates due to the “hard impact” of the sanctions on the country’s economy and stressed that there is a need to stabilize macroeconomic indicators. He commented that there are still things that need to be resolved to increase production, to help tax revenues and for the economy to function at a higher level.
He stressed that there is a greater demand for foreign currency and that this set of factors puts “pressure” on the dollar, where it tends to become “cheaper” excessively and Venezuelans seek to buy dollars. That fact, for Faría, should be a point of attention and avoid low-priced foreign exchange “because it stimulates imports.”
He criticized that there are people who seek to “torpedo” the positive activities carried out by the Executive for the economy and the improvement of the country, while saying that economic stabilization has been generated.
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