Venezuela’s President Threatens to Seize Factories With Halted Production

Venezuela (Sputnik) – Venezuelan President Nicolas Maduro threatened to seize the country’s factories which are currently not working and put their owners in prison.

The announcement comes after the Polar Group food and beverages producer stopped making beer last month.

“We must take all measures to recover productive capacity, which is being paralyzed by the bourgeoisie. Anyone who wants to halt [production] to sabotage the country should get out, and those who do must be handcuffed and sent to the PGV [Venezuelan General Penitentiary],” Maduro said Saturday as quoted by the BBC.

On Friday, Maduro extended the economic state of emergency in the country for three more months.

Maduro declared an economic emergency in Venezuela in January. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues.

The initial economic emergency decree was valid for 60 days. It was subsequently extended for two more months in March.

 

This report prepared by Sputnik News.