The head of the Supermarket Owners Syndicate, Nabil Fad, views the convergence of figures in determining the customs dollar price as an indicator that can be relied upon in ongoing discussions. He emphasized that the main goal for him is to avoid a negative shock to the economy, which necessitates a gradual increase until reaching the required figure over the coming months.
In an interview with "Voice of Lebanon," Fad noted that "many food items are exempt from customs or have a low rate of 5 percent, so raising the customs dollar will not have an impact even if the customs dollar reaches 20,000 Lira." He considered that "the problem is not the increase in the customs dollar, but rather the current inflation in food items is due to the exchange rate of the dollar rising to 34,000 Lira and the increase in the price of diesel, which is essential for generating power to retail stores and supermarkets."
Regarding price regulation, Fad confirmed that "the syndicate regularly sends the Ministry of Economy a list of goods and the figures that have gone up in price, which encourages competition and reduces monopolies."
