Lebanon

Public Sector Strike Grips Housing Loans

Public Sector Strike Grips Housing Loans

As the public sector strike enters its second month, daily losses amounting to billions continue to accumulate in the state's treasury with each additional day of closure of public sector institutions and their administrations... The damages are affecting the structure of the economic sectors and all their components, while solutions await the enthusiasm of those in charge of decision-making... The Housing Bank is just one of the entities adversely affected by this strike, as applications from those seeking loans, whether for housing, renovations, or solar energy, remain stalled due to the ongoing open-ended public sector strike, which prevents them from securing the necessary documentation.

In this context, informed sources have reported to “Al-Markaziyya” that the number of visitors to the Housing Bank's website reached 170,000, indicating that "there is no malfunction in the website's operation; rather, what delays loan applications from the Housing Bank is the public sector employees' strike that began about a week after the launch of the aforementioned website... The strike has now entered its seventh week, preventing loan seekers from completing the required documentation for their applications, including, but not limited to: real estate certificates, certified housing permits, easement and planning certificates, property ownership denial certificates, individual and family civil registry extracts, criminal records, and salary certificates from the social security fund".

It is pointed out that "all these documents are essential and necessary for loan applicants to submit to the Housing Bank for consideration, as it is not enough for them to publish the required information on the bank's website alone; they must also submit the supporting documents to verify the information provided on the site, particularly concerning proof that the loan applicant is Lebanese".

Due to the strike of public sector administrations and institutions, all these documents remain stuck, and loan seekers are unable to secure them, hindering the application process. Will public sector employees be fairly compensated so that the economy and its institutions and sectors can be fairly treated?

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