Economy

What is the Fate of the 3 Percent Fee?

What is the Fate of the 3 Percent Fee?

The Lebanese Industrialists Association, headed by Salim Al-Zahni, issued a statement expressing gratitude to the Ministers of Industry and Finance in the caretaker government, George Bushkian and Youssef Khalil, for their "swift intervention and work to halt the collection of a fixed customs fee of 3 percent on industrial equipment and raw materials."

The association also appreciated "the positive engagement of the Higher Customs Council and Customs Administration regarding this matter, and their quick response to the request from industrialists, which helped prevent the escalation of the crisis and prevented further harm to the industrial sector and its stakeholders."

It stated that "the positive action taken by the relevant parties concerning the rightful demand of industrialists reflects a strong belief among officials in the importance of the industrial sector and its leading role, especially during this extremely difficult phase for leading recovery, growth, and economic and social stability."

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