Representative Qassem Hashem during a discussion with a protester (Hussein Beydoun)
saw ocean Lebanese Parliament In Beirut, this morning, Wednesday, protest movements against the law “Capital Control(Capital controls) in the form approved by the Council of Ministers, in conjunction with a session of the Parliamentary Finance, Budget, Administration and Justice Committees to follow up on the study of the project aimed at setting temporary and exceptional controls on bank transfers and cash withdrawals.
Frictions were recorded between the protesters and MPs when they entered the session, to the extent that some officials’ convoys attacked the protesters by force, while MP Qassem Hashem (belonging to the Development and Liberation bloc headed by Nabih Berri) stopped to talk to the demonstrators who exploded in anger in his face, describing the politicians They were “representatives of shame”, so he assured them that he would reject the project, knowing that the formula being discussed today was approved by the Council of Ministers, which represents the traditional parties that make up Parliament with its majority.
Come move sequel Protests and rallies were carried out yesterday, TuesdayAlso, in conjunction with the session of the Parliamentary Finance and Justice Committees, which did not notice any tangible progress, in light of warnings issued by associations and associations of depositors, unions of free professions and independent civil groups to escalate, and raise the ceiling of confrontation in the street, to block the way before the proposal of the “Capital Control” law in its last form. and pushing for fundamental amendments to it, in a way that guarantees and guarantees the rights of depositors in the first place.
The law establishes exceptional and temporary controls on bank transfers and cash withdrawals, for a period of two years, renewable once, as part of negotiations with the International Monetary Fund to set a program that gives Lebanon a package of aid in exchange for promised reforms, after the economic crisis and the collapse of the financial system in 2019, which resulted in placing restrictions On deposits in banks and freeze depositors’ balances in dollars.
The Lebanese Prime Minister continues Najib Mikati Defending the formula passed by his deputy, His Excellency Al-Shami, rejecting the accusations that it neglected the right of the depositor, placing it in the context of “causing confusion and tension.”
Mikati stressed, during his meeting, yesterday, Tuesday, with a delegation from the Association of Banks, that “one of the government’s priorities in economic treatment is to preserve the rights of depositors, not to forfeit them,” stressing that “the recovery plan prioritizes preserving people’s rights and reactivating the various productive sectors.” And also to preserve the banking sector, which was a key element in the economic recovery.”
The head of the Parliamentary Administration and Justice Committee, George Adwan, stressed, in a statement to the House of Representatives, that “any discussion outside the path of determining responsibilities and distributing losses means taking the country towards the unknown.”
Adwan said, “We as the strong republic bloc (the Lebanese Forces party headed by Samir Geagea represents a parliamentarian) will not participate in any discussion, as participation is a false testimony” towards the Lebanese, noting that, according to the proposed formula, 60 billion dollars will be written off from Lebanon’s debts and will be borne by the depositors, refusing to discuss the issue. “Capital Control” before approving the economic recovery plan, describing any talk about protecting depositors from Mikati as “incorrect.”
Adwan added, “There is a hidden plan that will appear soon, according to my assessment of the issue, and it does not serve the rights of Lebanon or the people.”
Yesterday, Tuesday, the Lebanese Medical Syndicate warned against passing the “Capital Control” bill in its current “discretionary and illegal” form by setting exceptional and temporary controls on bank transfers and cash withdrawals, and in isolation from the package of laws and “necessary, accompanying and complementary measures, and from Without revealing the recovery plan that shows the real losses and how to bridge them,” according to the statement.
For its part, the Beirut Bar Association stressed that the file of depositors in banks “is a national, humanitarian and social file, and it is not possible for someone who has worked hard, worked and worked hard for years to lose a lifetime due to waste or lack of responsibility,” considering, in a statement, that “what is happening Today it is organized theft in light of the attempt to pass the project in its discretionary, illegal or constitutional form, and in isolation from the package of laws and necessary accompanying and complementary measures.”
The syndicate warned of “depositors’ impatience and escalation in the coming days in the event of not responding to their call,” noting that all free professions unions “are ready to peacefully take to the street, specifically in front of the Banque du Liban and the Association of Banks.”
In turn, the Executive Council of the Federation of Banks Employees Syndicates in Lebanon called, in a statement, for the Lebanese parliament to “observe the free economic system that contributed to the growth of the Lebanese banking sector, and not to pass any law under any name that affects the free economic system, or constitutes an obstacle to restoring confidence.” our banking sector.
On the other hand, the price of octane 95 and 98 octane gasoline in Lebanon rose today, Wednesday, by 13,000 Lebanese pounds, after the Banque du Liban raised the exchange rate of the dollar according to its exchange platform, which provides 100% of the import bill, from 22,200 pounds to 22,850 pounds, with It is noteworthy that the dollar exchange rate on the black market recorded, since yesterday evening, Tuesday, an upward trajectory, in which it crossed the threshold of 25 thousand pounds.
According to a schedule announced by the Ministry of Energy, the price of 95 octane gas tanks became 475,000 pounds, and octane 98 pounds 485 thousand pounds, knowing that fuel prices had also recorded an increase, yesterday, Tuesday, in connection with regional international developments.