Sources within the "National Price Policy Council" stated that the decision to establish it came after an unprecedented surge in prices due to the collapse of the lira's value, and it is one of the reform measures that should have been implemented earlier. They explained to "Asharq Al-Awsat" that the council is expected to operate alongside the Consumer Protection Authority, which monitors prices. They indicated that decisions regarding prices are no longer solely within the purview of the Minister of Economy, but will be made based on data and participation from representatives of various stakeholders and sectors, according to a plan they are supposed to develop and implement to curb this price inflation and monitor it. They hope that there will be adherence to the implementation of decisions, so that the fate of this council and its decisions does not mirror that of other councils and decisions in Lebanon.
On the other hand, the Deputy Head of the General Labor Union and one of the members of the new council, Hassan Faqih, noted that the problem does not lie in forming councils or issuing laws, but rather in their implementation, especially in light of the lack of a fixed exchange rate for the dollar. He explained to "Asharq Al-Awsat" that setting prices for some basic goods, such as fuel, bread, and food baskets, is possible, but the issue lies in monitoring market chaos and the greed of traders who exploit the crisis. He gave the example that the Consumer Protection Association is unable to monitor due to the absence of a large team of inspectors.
Faqih stressed that the solution lies in making decisive decisions and punishing violators by imprisoning them, while also mentioning that the newly formed council is a step in the right direction, albeit late. However, it will not have an effective role unless given broad powers, which will become apparent at its first meeting, expected to be held early next week.
