STRONG LEBANON PRAISES CAPITAL CONTROL LAW ADOPTION, CALLS ON PARLIAMENT TO QUICKLY APPROVE SUBSIDY CARD

The Strong Lebanon parliamentary bloc held its periodic meeting under the chairmanship of MP Gebran Bassil, and issued a subsequent statement which said: “(…) the bloc believes that the PM-designate must make up his mind as to whether or not he will be forming a government. All the concerned parties must assume their responsibilities by revealing all the facts in order to inspire a [government] formation, because ignoring or altering those facts allows more precious time to be wasted.”

Conferees believed that “partial treatment for the crisis of subsidizing basic commodities is not enough. The House of Representatives is required to assume its responsibilities by quickly deciding on the subsidy card and rationalizing support, in a way that solves the problems of electricity, medicine, foodstuffs and oil derivatives. Any failure that leads to social unrest — which will inevitably occur — will be blamed on obstructers.”

The statement pointed out that “the draft law submitted by the bloc secures to poor families their material needs and returns to depositors a portion of their money. At the same time, it limits the waste resulting from the subsidy policy currently adopted, and significantly reduces its cost. Shouldn’t this draft law be given utmost priority in light of the daily crises the country is witnessing, any of which threatening to lead to social explosion?”

The bloc valued “the adoption of the Capital Control Law at the Finance and Budget Committee,” calling on “the Central Bank to provide the financial data and numbers required for the General Assembly to decide on financial clauses as soon as possible.”

Source: National News Agency

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Welcome to Lebanon News Gazette, your window into the captivating world of Lebanese news and beyond. We are here to deliver timely, accurate, and captivating coverage that keeps you informed and engaged.