The bill was approved last week in its first reading by a qualified majority, with only one vote against from the opposition.

Before the discussion, Executive Vice President Delcy Rodríguez explained in the legislative chamber the details of the aforementioned law, which was proposed on May 1 by President Nicolás Maduro.

Rodríguez stated that the bill consists of 13 articles, and in its essence has a very specific objective: the special contribution of private business to increase pensions in the light of the “criminal blockade” of the United States.

She stressed that the bill “evokes Commander Hugo Chávez (1954-2013) because it is based on social justice and defends the most vulnerable people, our older adults, retirees and pensioners, and our grandparents.”

The Permanent Commission on Economy, Finance and National Development of Parliament met on Monday with the private business sector in order to discuss the aforementioned Bill.

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