DHAKA: Venezuelan president Nicolas Maduro has threatened the seizure of factories that have stopped production, and the jailing of their owners.

In a speech to supporters in the capital Caracas, he said the country had to recover the means of production, to counter its deep economic crisis, BBC reports on Sunday (May 15).

He introduced a new, nationwide state of emergency on Friday.

Opposition protesters have been rallying in Caracas to push for a recall vote to eject him from power.

Maduro said the state of emergency was needed to combat foreign aggression, which he blamed for Venezuela’s problems.

Military exercises would take place next weekend to counter ‘foreign threats’, he added.

BDST: 1426 HRS, May 15, 2016
SAS/RR