AIRLINK 80.60 Increased By ▲ 1.19 (1.5%)
BOP 5.26 Decreased By ▼ -0.07 (-1.31%)
CNERGY 4.52 Increased By ▲ 0.14 (3.2%)
DFML 34.50 Increased By ▲ 1.31 (3.95%)
DGKC 78.90 Increased By ▲ 2.03 (2.64%)
FCCL 20.85 Increased By ▲ 0.32 (1.56%)
FFBL 33.78 Increased By ▲ 2.38 (7.58%)
FFL 9.70 Decreased By ▼ -0.15 (-1.52%)
GGL 10.11 Decreased By ▼ -0.14 (-1.37%)
HBL 117.85 Decreased By ▼ -0.08 (-0.07%)
HUBC 137.80 Increased By ▲ 3.70 (2.76%)
HUMNL 7.05 Increased By ▲ 0.05 (0.71%)
KEL 4.59 Decreased By ▼ -0.08 (-1.71%)
KOSM 4.56 Decreased By ▼ -0.18 (-3.8%)
MLCF 37.80 Increased By ▲ 0.36 (0.96%)
OGDC 137.20 Increased By ▲ 0.50 (0.37%)
PAEL 22.80 Decreased By ▼ -0.35 (-1.51%)
PIAA 26.57 Increased By ▲ 0.02 (0.08%)
PIBTL 6.76 Decreased By ▼ -0.24 (-3.43%)
PPL 114.30 Increased By ▲ 0.55 (0.48%)
PRL 27.33 Decreased By ▼ -0.19 (-0.69%)
PTC 14.59 Decreased By ▼ -0.16 (-1.08%)
SEARL 57.00 Decreased By ▼ -0.20 (-0.35%)
SNGP 66.75 Decreased By ▼ -0.75 (-1.11%)
SSGC 11.00 Decreased By ▼ -0.09 (-0.81%)
TELE 9.11 Decreased By ▼ -0.12 (-1.3%)
TPLP 11.46 Decreased By ▼ -0.10 (-0.87%)
TRG 70.23 Decreased By ▼ -1.87 (-2.59%)
UNITY 25.20 Increased By ▲ 0.38 (1.53%)
WTL 1.33 Decreased By ▼ -0.07 (-5%)
BR100 7,629 Increased By 103 (1.37%)
BR30 24,842 Increased By 192.5 (0.78%)
KSE100 72,743 Increased By 771.4 (1.07%)
KSE30 24,034 Increased By 284.8 (1.2%)

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.