Warning of a Price Catastrophe

Head of the Union of Food Importers, Hani Bahsali, denied all claims regarding traders earning huge profits as a justification for raising the customs dollar. He pointed out that the increase in commodity prices that accompanies the rise in exchange rates is a protection of capital, not profit. Bahsali noted that the Lebanese citizen no longer consumes luxuries and emphasized, in an interview with "Voice of Lebanon," the necessity of exempting essential goods, which pay a lot in customs, from the bitter cup, as he described it. He warned of a catastrophe in prices if both the customs dollar and the black market dollar rise simultaneously. Regarding the meeting of economic bodies today, Bahsali revealed that the discussion would focus on the figure of 20,000, noting that the increase is very significant, in addition to the lists of goods that will be exempted. In response to a question about adopting pricing in dollars, Bahsali mentioned that there is an ongoing debate in this regard, especially since consumer protection law mandates payment in Lebanese pounds.