AGL 40.02 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.99 Increased By ▲ 0.29 (0.23%)
BOP 6.66 Increased By ▲ 0.05 (0.76%)
CNERGY 4.44 Decreased By ▼ -0.16 (-3.48%)
DCL 8.75 Decreased By ▼ -0.04 (-0.46%)
DFML 41.24 Decreased By ▼ -0.34 (-0.82%)
DGKC 86.18 Increased By ▲ 0.39 (0.45%)
FCCL 32.40 Decreased By ▼ -0.09 (-0.28%)
FFBL 64.89 Increased By ▲ 0.86 (1.34%)
FFL 11.61 Increased By ▲ 1.06 (10.05%)
HUBC 112.51 Increased By ▲ 1.74 (1.57%)
HUMNL 14.75 Decreased By ▼ -0.32 (-2.12%)
KEL 5.08 Increased By ▲ 0.20 (4.1%)
KOSM 7.38 Decreased By ▼ -0.07 (-0.94%)
MLCF 40.44 Decreased By ▼ -0.08 (-0.2%)
NBP 61.00 Decreased By ▼ -0.05 (-0.08%)
OGDC 193.60 Decreased By ▼ -1.27 (-0.65%)
PAEL 26.88 Decreased By ▼ -0.63 (-2.29%)
PIBTL 7.31 Decreased By ▼ -0.50 (-6.4%)
PPL 152.25 Decreased By ▼ -0.28 (-0.18%)
PRL 26.20 Decreased By ▼ -0.38 (-1.43%)
PTC 16.11 Decreased By ▼ -0.15 (-0.92%)
SEARL 85.50 Increased By ▲ 1.36 (1.62%)
TELE 7.70 Decreased By ▼ -0.26 (-3.27%)
TOMCL 36.95 Increased By ▲ 0.35 (0.96%)
TPLP 8.77 Increased By ▲ 0.11 (1.27%)
TREET 16.80 Decreased By ▼ -0.86 (-4.87%)
TRG 62.20 Increased By ▲ 3.58 (6.11%)
UNITY 28.07 Increased By ▲ 1.21 (4.5%)
WTL 1.32 Decreased By ▼ -0.06 (-4.35%)
BR100 10,081 Increased By 80.6 (0.81%)
BR30 31,142 Increased By 139.8 (0.45%)
KSE100 94,764 Increased By 571.8 (0.61%)
KSE30 29,410 Increased By 209 (0.72%)

Venezuela's government said on Tuesday it planned to create a state-run sugar company and a cereal and oil seeds enterprise as part of President Hugo Chavez's agrarian reforms for the poor. Information Minister Andres Izarra said a government cabinet had approved the creation of CVA Azucar and CVA Cereales y Oleaginosas to oversee and co-ordinate the production, sale, import and export of those commodities.
"CVA Azucar will reinforce our strategy of food security and also carry out what is established in the land law regarding the development of the chain of production," Izarra told reporters after a cabinet meeting.
He said the companies were still in the planning stages and did not provide any further details. The minister said the government would also create a dairy products company.
Venezuela, the world's No 5 oil exporter, this year began enforcing a disputed agrarian land redistribution law that the government says is aimed at fighting rural poverty and developing domestic agriculture output.
Left-winger Chavez often complains about Venezuela's heavy reliance on food imports and he has promised to increase domestic crop output. But critics say his agrarian reforms are not sustainable and lack co-ordination.

Copyright Reuters, 2005

Comments

Comments are closed.