Venezuelan operators ordered to reimburse users as price hikes suspended

10 Aug 2016

The director of Venezuela’s National Telecommunications Commission (Conatel), William Castillo, has announced that communications service operators must reimburse their customers after their most recent tariff increases were frozen by the government, TeleSemana reports. CANTV (including Movilnet), Telefonica Venezuela (Movistar), Digitel and DirecTV (owned by AT&T) had intended to raise some tariffs by up to 900%, in response to both hyperinflation in Venezuela – expected to exceed 700% over 2016 – and the inability to acquire sufficient foreign currency under the country’s restrictive system. A direct order from Venezuela’s President Nicolas Maduro, however, meant that the companies must now pay back the difference in old and new tariffs charged to customers over the last few weeks.