Venezuela: Shop Profits Should Not Exceed 30% EPK. Children'S Clothing Stores Are Ordered To Lower Prices.

The oil recoverable volume ranks first in the Western Hemisphere, and is an important role in the international oil market.

Venezuelan nationalism is popular. The government intervened comprehensively in social and economic life, implemented foreign exchange control and severely suppressed the behavior of driving up commodity prices. This highly nationalistic development model is rare in other Latin American countries.

Recently, Venezuelan government has imposed price controls on EPK, a children's clothing store.

After falling prices, consumers came to rush to buy.

According to the December 12th report, EPK Grupo Los Principitos CA is a specialized sales company in Venezuela.

Chain stores.

Recently, the Venezuelan government ordered

EPK follows relevant profit laws and regulations to force the chain brand to lower the price of children's clothing.

After the order was issued, the EPK store in Caracas (Venezuela capital) was crowded with people queuing up to buy goods for sale.

Andres Eloy Mendez, head of Venezuela's price supervision bureau, said: "EPK's products will be sold to consumers according to the relevant profit margin law.

According to Venezuelan law, the profit margin of commodity sales should not exceed 30%. The profit margin of EPK chain stores is over 30%, which violates the law. The government must intervene and force it to reduce prices.

It is reported that the Venezuelan government passed the profit rate law in January this year, making a clear provision for the maximum profit margin.

Venezuela's inflation rate reached 63% in August this year, ranking the highest in the world.

Hundreds of thousands of people lined up outside the EPK store in Caracas after the government ordered one.

Not only that, it is reported that EPK's stores in Barinas, ordas and La Cruz harbor are also full of people.

It is reminiscent of Venezuela's president Nicholas Maduro, who forced the sale of electronic products stores last Christmas, and then led thousands of Venezuelan people to rush to the electronics retail store. Because of too many consumers, the Venezuela had to send troops to maintain order in order to prevent stampede.

Venezuela is the fastest growing country in the world in terms of inflation, according to Bloomberg news.

The price of food and other daily necessities in Venezuela is far lower than that in neighbouring countries because of price controls.

Smugglers often buy a lot of cheap products from Venezuela and sell them to neighboring countries to earn the difference.

The EPK leader did not respond immediately to the government's mandatory price reduction order.

It is reported that EPK chain stores have 31 branches in Venezuela and 10 other countries in South America, such as Brazil, Columbia, Panama and Israel.