Bolivia gets tough

on the May Day was a tribute to the Bolivian workers and people.  
He said the move was in line with the country’s constitution and national development plan, which calls for reclamation of nationally strategic entities that are under private or foreign control.  
“We are sure this decision is beneficial to the country,” said Morales.  
“I want to make clear to national and international public opinion that before being privatised, this company belonged to the Bolivians and now we are nationalising what was ours, we are reclaiming it.”  
Morales said that his administration was once again taking a “historic” step in favour of the nation by reclaiming strategic companies that “neo-liberal” policies had handed over to private hands “at bargain basement prices to the detriment of the Bolivian people”.  
The move came in the wake of Argentina’s recent nationalisation of Spanish-owned oil company Repsol YPF, a decision that has drawn opposition from around the region and the world.  
Since his inauguration in 2006, Morales has implemented a policy of reclaiming the nation’s natural resources and strategic companies from private or transnational firms.  
Four years ago, he nationalised Italian-owned Empresa Nacional de Telecomunicaciones. Morales has also nationalised oil, electricity and telecom companies, reclaimed mines and eliminated mining concessions, among other measures.  
Before the nationalisation drive, foreign oil companies enjoyed 82 percent of the profit   derived from Bolivia’s natural resources, now transnational companies in Bolivia earn only 18 percent, with the remaining 82 percent going to the state.  
Bolivia had nationalised oil companies three times in its history, in 1937, 1969 and 2006. — Xinhua.