AGL 36.58 Decreased By ▼ -1.42 (-3.74%)
AIRLINK 215.74 Increased By ▲ 1.83 (0.86%)
BOP 9.48 Increased By ▲ 0.06 (0.64%)
CNERGY 6.52 Increased By ▲ 0.23 (3.66%)
DCL 8.61 Decreased By ▼ -0.16 (-1.82%)
DFML 41.04 Decreased By ▼ -1.17 (-2.77%)
DGKC 98.98 Increased By ▲ 4.86 (5.16%)
FCCL 36.34 Increased By ▲ 1.15 (3.27%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 17.08 Increased By ▲ 0.69 (4.21%)
HUBC 126.34 Decreased By ▼ -0.56 (-0.44%)
HUMNL 13.44 Increased By ▲ 0.07 (0.52%)
KEL 5.23 Decreased By ▼ -0.08 (-1.51%)
KOSM 6.83 Decreased By ▼ -0.11 (-1.59%)
MLCF 44.10 Increased By ▲ 1.12 (2.61%)
NBP 59.69 Increased By ▲ 0.84 (1.43%)
OGDC 221.10 Increased By ▲ 1.68 (0.77%)
PAEL 40.53 Increased By ▲ 1.37 (3.5%)
PIBTL 8.08 Decreased By ▼ -0.10 (-1.22%)
PPL 191.53 Decreased By ▼ -0.13 (-0.07%)
PRL 38.55 Increased By ▲ 0.63 (1.66%)
PTC 27.00 Increased By ▲ 0.66 (2.51%)
SEARL 104.33 Increased By ▲ 0.33 (0.32%)
TELE 8.63 Increased By ▲ 0.24 (2.86%)
TOMCL 34.96 Increased By ▲ 0.21 (0.6%)
TPLP 13.70 Increased By ▲ 0.82 (6.37%)
TREET 24.89 Decreased By ▼ -0.45 (-1.78%)
TRG 73.55 Increased By ▲ 3.10 (4.4%)
UNITY 33.27 Decreased By ▼ -0.12 (-0.36%)
WTL 1.71 Decreased By ▼ -0.01 (-0.58%)
BR100 11,987 Increased By 93.1 (0.78%)
BR30 37,178 Increased By 323.2 (0.88%)
KSE100 111,351 Increased By 927.9 (0.84%)
KSE30 35,039 Increased By 261 (0.75%)

imageCARACAS: Venezuela will close its Colombia border at night starting on Monday to combat smuggling of various Venezuelan products, including food and gasoline, officials said on Saturday.

The border closure will take place from 10:00 pm (0230 GMT) to 5:00 am (0930 GMT) each night "to strengthen policies tackling smuggling from Venezuela to Colombia," said a press release from the state news agency AVN.

Venezuelan President Nicolas Maduro and his Colombian counterpart Juan Manuel Santos agreed on the border closure during a meeting held August 1 in Cartagena focused on smuggling, officials said.

"We are sealing the entire border all 2,200 kilometers (1,400 miles) of it between Venezuela and Colombia," said the military commander in charge of the operation, Vladimir Padrino Lopez, from the border state of Zulia, one of the main contraband thoroughfares.

On Friday, Maduro appointed Padrino Lopez, head of the strategic command of the armed forces, and Vice President Jorge Arreaza to head a civilian-military unit to combat smuggling.

Venezuela, which has the largest proven oil reserves in the world, also sells gas for some of the cheapest prices allowing consumers to fill the tank of a car for the equivalent of a candy bar or bottle of water.

The low prices have long led to smuggling of fuel to Colombia. In the past year, more food and commodities have crossed the border. Prices in Colombia can be up to 10 times higher than in Venezuela, which has price controls.

The Venezuelan government estimates that 40 percent of basic commodities are smuggled across the border with Colombia, plus 100,000 barrels of oil, equivalent to annual losses of $3.7 billion.

Comments

Comments are closed.