| 22 February 2024, Thursday |

Will the Central Bank monopolize the black market?

The Head of the General Labor Union Bechara Asmar, announced that the strike that the union will implement aims at reconsidering and adjusting wages. He revealed that he will meet for this purpose, the Caretaker Prime Minister, Hassan Diab on Wednesday.

Asmar called for looking into the workers’ situation, which has deteriorated amid the accumulated crises and the salaries that are still calculated at the exchange rate of 1,500 LBP, although it lost 95 percent of its value.

Asmar said that the union is communicating with the concerned authorities to raise the transportation allowance for the public and private sector employees through an escalator to keep pace with the rise in fuel prices.

The member of the Executive Office of the General Labor Union, Chaaban Badra, called for providing citizens the financing card rapidly, provided that it is distributed to workers in both public and private Institutions and for retirees. He also called for increasing the transportation allowance, the minimum wage, or granting an advance on the cost of living, as well as solving the fuel, medicine, and bread crisis, once and for all.

Chaaban stressed that the strike, which will be carried out by the labor union for a week, is a warning to urge the authority to carry out its duties.

A new circular was issued by the Central Bank which bans Lebanese banks from undertaking the money exchangers’ role on black market, and prevents them from buying and selling dollars, checks and bank accounts in foreign currencies for their own account. Will the Central Bank monopolize the black market?

On the other hand, The Head of the Lebanese Federation of Tourism Pierre Achkar, announced that the Ministry of Energy and Water issued a decision allowing hotels to import diesel fuel from abroad for the benefit of their institutions.

Achkar said that in order to speed up this process, a mechanism was put in place under the supervision of the Ministry and in agreement with one of the companies importing fuels. The agreement stipulated that each hotel determines its needs of diesel for a period of one month, so that the required quantity can be delivered from the agreed company.

Achkar stressed that “this solution was imposed due to the difficult facts emerging on the ground, which prevented hotels from obtaining diesel, or obtaining it from the black market at exorbitant prices that exceed its real, unsubsidized price, which would guarantee the hotels’ continuity.

  • Sawt Beirut International