Will the Price of a Loaf of Bread Rise?

The head of the bakery owners in Mount Lebanon, Antoine Seif, indicated that the price of a loaf of bread will see an increase on April 1st, with an addition of 1,000 Lebanese pounds to the current price, according to the pricing set by the Ministry of Economy based on the cost of a ton of flour. Seif mentioned, through "Voice of Lebanon," that the agreement from 1981 between bakery owners and the Social Security Fund was applicable when bakeries were small institutions focused only on bread production and when most workers were of Syrian nationality, imposing a fee of 1,000 pounds on each ton of flour, which would increase at the end of the year if it wasn't sufficient. He explained that the technical committee decided, after the prevailing inflation and the transformation of bakeries into large institutions, to cancel the agreement, and 70% of the bakeries that have become large institutions have committed to the laws and procedures of social security and pay the required fees.