By Mayela Armas

CARACAS, (Reuters) – The opposition to Venezuela agreed Tuesday to form a five member commission to look into the situation at Monomeros fertilizer producers. This is currently being monitored by Colombian regulators and will then restructure them.

The Superintendency of Companies in Colombia, an organization that inspects and oversees businesses, announced it will supervise Monomeros’ operations. Monomeros is a subsidiary of Venezuela’s state-owned petroleum company PDVSA.

This was after the former chairman of the company’s board resigned. The regulator intervened because Nicolas Maduro, Venezuela’s President, demanded control over Monomeros.

The commission, appointed by the opposition-controlled National Assembly, is authorized to travel to Colombia to investigate what caused the company’s financial woes, said opposition leader Juan Guaido.

Guaido stated that the deal must lead to the immediate protection of the asset during the video conference. We can’t prevent bad apples from happening, but we can take steps to denounce, and draw a distinction between what has been destroyed in this country.

Guaido appointed the board that controls the company in 2019. In 2019, Colombia, the United States, and many others recognised him as Venezuela’s legitimate leader. Maduro was then labeled a dictator who rigged 2018’s re-election.

Maduro claims the election was free and fair. However, the United States continues to impose sanctions on Maduro. Diplomatic pressure is also applied while the international mediators help facilitate talks about a political solution.

Maduro stated that he would use negotiations to force Monomeros’ and Citgo Petroleum Corp (also controlled by the opposition) into his control.

Juan Pablo Guanipa, an opposition lawmaker, stated during the session that the commission would have 10 days for its investigation.

Monomeros’ new director will be named by the assembly in the near future.