The electronic newspaper "Al-Anbaa" reported that the ongoing clash surrounding the "Capital Control" project in the form it was presented at the parliamentary committees' meeting is likely to be postponed, potentially leading to its referral to the new parliamentary council. This comes after clear disagreements surfaced between the government and the deputies, who insisted on rejecting it due to its lack of a clear vision to protect depositors' funds and find acceptance from the International Monetary Fund. Parliamentary sources indicated to "Al-Anbaa" that it was unlikely for the project to be raised in the parliament's general assembly meeting today, as it does not meet the necessary conditions.
In a high-profile statement, the Progressive Socialist Party questioned in a statement: "Where is the government concerning this project that leads to the country's bankruptcy and further plunges it into the mire of dependence on the Iranian axis? What is this proposal that once again deducts from people's money and harms small and medium depositors? From which specific segment of the government did this project come, which stimulates black markets and opens the door to 'inflated' import bills instead of unifying the exchange rate market and controlling the balance of payments deficit? Why this lethal insistence on 'nationalizing' depositors' funds for the benefit of the central bank and commercial banks?"
In this context, MP Asssem Araji of the Future Bloc confirmed to "Al-Anbaa" that the "Capital Control" project will not be presented at the general session following its rejection by the joint committees, as it has not been issued by an official channel. He stated, "It was presented by Deputy Prime Minister Saadeh Al-Shami on a paper, asking the joint committees to approve it because the IMF insists on it; hence, it was rejected in the committees' meeting."
Moreover, MP Michel Moussa from the Development and Liberation Bloc stated in a conversation with the "Al-Anbaa" newspaper that there will be no discussion of the Capital Control project in today's parliamentary session agenda since it was not agreed upon in the joint committees meeting, noting that "the essence of the matter is to preserve depositors' rights." He expressed his rejection of it in its current form before reaching its content, deeming it both illegal and unconstitutional.
MP Wahi Qattisha of the Strong Republic Bloc pointed out in his conversation with "Al-Anbaa" that the proposed Capital Control project lacks any scientific grounding and a comprehensive economic and financial vision on how to rescue depositors' funds. Addressing the ongoing judicial and banking conflict that warns of a crisis, Qattisha noted that "the ruling team is desperately trying to create a political crisis to justify its failure over the past six years in managing the state. After all attempts have failed, they have sought revenge against the Governor of the Bank of Lebanon, Riad Salameh, because they have promised the Lebanese to resolve their issues from the start of their term but, regrettably, have led the country from bad to worse, leaving them only with Riad Salameh to say to the people they arrested the criminal, regardless of whether Salameh is guilty or not."
Furthermore, Araji commented on the collapse of all institutions and the disintegration of the state: "Unfortunately, each team acts as if no one else exists in the country; when the state deteriorates, all institutions collapse." He pointed to the decline of the health sector and the 13% rise in drug prices, which could increase with the rising dollar, indicating that the country is heading toward the worse. He added, "We have never seen such a disaster, even at the height of the Civil War."
Against this bleak reality that the country has reached, the Progressive Party shouted yesterday, directing fundamental questions to the government: "Where is the government after all this time in implementing a fair social policy? Where is the cash card program? Where are the promises regarding electricity, fuel, and procurement? What kind of budget does not include progressive taxes on unified income instead of the indirect taxes that affect people without fair differentiation? Where is the sovereign fund project that feeds on leasing and investing state assets, if effectively managed, instead of getting distracted by decisions to lift expropriations related to the 'Eikoshare' project of 1966, or the properties of Electricité du Liban from 50 years ago for purely electoral purposes? And where is the government concerning the maritime property file? What has this government done regarding all this?"
The battle has become clearer, as confirmed by the Progressive Party, stating it is "a comprehensive national battle, an exceptional battle for the defense of existence and for a diverse Lebanon—Lebanon of distinction—against all projects of dependence, bankruptcy, cancellation, and assassination. These are the titles of the May 15 entitlement that the sovereignty line will rely on in the parliamentary elections against all attempts of cancellation and altering Lebanon's identity."
