A Council To Police Prices In Lebanon Will Be Established For The First Time Since 1974

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Asharq Al-Awsat

President of Lebanon Michel Aoun issued a circular to establish the “National Council For Price Policy” for the first time since the decree was set in 1974.

The president signed the related Circular 9334 earlier today May 27th, which will be under the jurisdiction of the Ministry of Economy and Trade.

The Ministry of Economy was the one charged with policing prices before the decree came out to establish the council.

The council will be headed by the Economy Minister, and the vice-president will be the general director of the Central Administration of Statistics.

The members of the council will include:

  • The general director of the Ministry of Economy,
  • the general director of the Ministry of Finance,
  • the general director of the Ministry of Tourism,
  • the general director of the Ministry of Labor,
  • the general director of the Ministry of Agriculture,
  • the general director of the Consumer Protection,
  • a delegate from the Central Bank (the director of statistics and economic research in the bank),
  • the President of the Association of Lebanese Industrialists,
  • the President of the Association of Banque du Liban,
  • the President of the Chamber of Trade and Industry, and
  • three delegates from the Labour Union: the union president Dr. Bchara el Asmar, the vice president Hasan Fakeeh, and the general director Saadeddine Hmaydeh Saqr.

During the launch of the council, the Economy Minister, Amine Salam, warned the tradesmen to be careful not to overprice because the council will be on the lookout for them.

The council is charged with looking after the interests of the people from different classes, and the members include all those involved in the economical sector in the country.

The first session will be assigned in the next few days to set up the bases and rules for the council.

Related:
Prices Of Diesel And Gas Are Soaring In Lebanon.
Prices Of Lebanon-Produced Goods Are Soaring Unnecessarily.

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A Council To Police Prices In Lebanon Will Be Established For The First Time Since 1974

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