Toro
Diamond Member
One of the worst policies a government can implement is price controls, especially when the same incompetent government has created price inflation.
Caracas Goes Thirsty as Taps Run Dry and Bottles Vanish - Bloomberg
Residents of the Venezuelan capital of Caracas, who already struggle to find toilet paper and deodorant, are facing a new shortage -- drinking water.
The rationing of tap water amid a drought and a shortage of bottles because of currency controls are forcing people to form long lines at grocery stores and bottle shops as soon as deliveries are made. Truck drivers spend much of their day outside water dispatch centers as they try to meet demand.
I used to have to wait an hour to refill the truck, but now I have to wait six, said Carlos Miliani from his truck outside the Alpina dispatch center in eastern Caracas. More trucks are lining up here because of the shortage of plastic containers and the fact that plants that bottle mineral water have shut down. ...
State water utility Hidrocapital this month started rationing water in the capital. Some areas of the city receive water service only three days a week, with most neighborhoods going without water at least one day a week. When water does flow, few residents dare to drink it because of contamination. ...
Regulated prices for bottled water have not been raised since November 2011, industry association Anber said in a May 19 statement. Since then, consumer prices have risen 110 percent, according to central bank data, while the bolivar has lost 87 percent of its value on the black market, according to dolartoday.com, a website that tracks the value on the Colombian border.
Production costs have risen with labor and transport, Anber said. The cost of producing and distributing bottled water has more than doubled in the past two and a half years. ...
Annual inflation in Venezuela hit 59 percent in March after the government carried out the biggest devaluation since currency controls were instituted in 2003. The central bank hasnt provided data on product scarcity since January, when it said 28 percent of basic goods were out of stock at any given time.
Shortages of everything from car parts to flour have spurred almost four months of protests against the government of President Nicolas Maduro, leaving 42 people dead.
Caracas Goes Thirsty as Taps Run Dry and Bottles Vanish - Bloomberg