Private sector asking for
measures by government

Action needed to preserve scarce liquidity

The Economic Organizations (الهيئات الإقتصادية) in a letter addressed to the Prime Minister, is asking the government to undertake a number of measures to help it mitigate the impact of war on companies. "These measures will help the private sector maintain whatever is left from its scarce liquidity in order to enable it to continue working and paying salaries," said its chairman Mohamed Choucair. The measures include:

Ministry of Finance (MoF)
- Extend the deadline for the 2023 income tax declaration, until the law on assets and inventory revaluation is approved
- Extend the deadline for payment of fines of all kinds
- Postpone the deadline for payment of value-added tax
- Grant tax settlements for the years 2023 and before
- Halt the pressure exerted by the MoF on companies during this critical period.

Ministry of Telecom
- Grant Starlink a license to provide Internet service to institutions and companies to enable them to continue working to avoid interruption of communication with the outside world, in the event that the submarine cable that supplies Lebanon with the Internet is disabled.

NSSF
- Extend the validity of financial ‘quitus’ clearances (براءة ذمة مالية) until the end of the war
- Request the parties concerned with the clearance of goods from the port of Beirut (Ministry of Agriculture, Ministry of Public Health, Industrial Research Institute, Al-Fanar Laboratories) to take measures that would remove goods as quickly as possible from the Port of Beirut, especially food, medical supplies and fuels.

Central Bank (BDL)
- Conduct clearing operations twice a week instead of once to facilitate and accelerate transfer operations
- Take a similar measure to what it did at the beginning of this month, by giving additional payments to depositors benefiting from the circulars within the available capabilities, to support consumption and ensure the stability of the lira.

Security
- Establish a hotline to support the private sector in protecting private property
- Strengthen the role of the army in Lebanese ports, especially in the Port of Beirut.

Other measures
- Adopt certificates of origin for oil tankers to avoid unloading delays, as was done in some instances in the past
- Prepare for the possibility of covering the cost of insurance for incoming ships
- Involve the economic bodies when making economic and social decisions, especially in the upcoming Paris conference.