Caracas, November 15 (RHC) -– The National Assembly of Venezuela has passed a bill granting legislative powers to President Nicolás Maduro.
The bill, to be called the Enabling Law, was submitted a month ago by Maduro to make it easier for the executive branch to fight corruption. The bill passed the first reading after three hours of debate with 99 votes in favor and 60 opposition deputies against.
The Enabling Law is yet to be reviewed by a Parliament's Special Commission and must undertake a second reading within the next 10 working days. If approved, the draft law will be submitted to the Executive to be enacted and published in the Government Gazette.
The law will give Venezuela's president the temporary power to issue decrees in accordance with the needs of the country or in an emergency situation without having to seek parliamentary approval,
In a public address from the city of Valencia on Thursday, Maduro said he will use the law to continue his campaign against what he deems to be unfair business practices. It involves monitoring and regulating prices, establishing a cap on profits and other measures against practices that hurt consumers.