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Venezuelan President Hugo Chavez announces first steps in the Enabling

One of the first steps will be the nationalization of the company Electricidad de Caracas and its offices nationwide
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CARACAS, Feb. 1 .- The President of Venezuela, Hugo Chavez announced that one of the first steps to take in the context of the Enabling Act is nationalization of the electricity sector, reported PL.
At a press conference with local and international media at Miraflores Palace, Chavez noted that this is a must for the country, expressing that it was a mistake to have privatized the sector.
The Venezuelan leader said the measure includes amend laws in order to implement the nationalization of the company Electricidad de Caracas and its offices nationwide.
Chavez emphasized that preserve investment and domestic private sector savings, which holds 13 percent shareholding.
In turn, he said, the minority sector 40 000 savers and more than 100 000 of savings will be respected by any measure.
On this regard, the Venezuelan president urged the private sector not to be duped by the media campaigns of the opposition, led to instability and confusion about the Enabling Act and other reforms adopted by the government.
On Thursday, Chavez enacted the enabling, which takes effect for a period of 18 months immediately out in the Official Gazette of the Republic.
This law gives the president the possibility of legislation with rank and force of law in 11 areas of national interest to accelerate the construction of socialism in the country.