Beirut: MP Ibrahim Kanaan, chair of Parliament's Finance and Budget Committee, revealed the committee's approval of a significant draft law designed to offer relief to social security contributors. The approved bill aims to exempt these contributors from penalties associated with late payments and introduces the possibility of installment plans to manage outstanding dues.

According to National News Agency - Lebanon, this legislative measure is a strategic response to the challenging economic climate, providing crucial support to both individuals and institutions. The draft law is now set to be presented at the upcoming session of the parliamentary general assembly for further deliberation.

Additionally, the committee sanctioned amendments to an agreement with the Kuwaiti Fund, ensuring the continuation of the Sarafand sewage network project without incurring extra financial burdens. In a further development, Kanaan announced the establishment of a subcommittee under his leadership. The subcommittee's mission is to devise proposals that will fortify Lebanon's housing policy, with a particular focus on enhancing homeownership prospects for low-income families.

The lawmaker emphasized that the committee's agenda for the following week will include a thorough examination of Lebanon's fiscal and monetary policies. Discussions will also cover aspects related to state revenues, loans, and issues pertaining to Banque du Liban circulars.