In its last meeting, the economic bodies rejected the decision of the Minister of Finance in the caretaker government, Youssef Khalil, to raise the customs dollar to 45,000 pounds, because it is like firing a bullet of mercy on the legitimate economy, especially since it was not done in consultation with it.
The Lebanese Businessmen Association issued a statement calling, for the thousandth time, to proceed immediately: First, to control the illegal borders before raising the customs dollar on the few remaining legal companies, and to completely eliminate them.
Khalil had raised the exchange rate of the customs dollar from 1,507.5 Lebanese pounds to 15,000 pounds, as of December 1 of last year, i.e. 10 times at once.
It is well known that economically, financially and securityally comfortable countries, and ensuring a comfortable life for their citizens, increase taxes and fees from time to time with the aim of financing their expenses, which in turn are witnessing an increase, in order to continue to secure living, social and security stability for their citizens.
As for a country like Lebanon, which is mainly suffering from worsening conditions on various financial, economic, social, living and political levels, and its national currency is witnessing a dramatic deterioration, raising the exchange rate of the customs dollar for the second time in a row and within a short period of not more than three months will inevitably lead to more high costs. livelihood, the high prices of commodities and smuggling operations on the one hand, and the high level of poverty, misery and hunger.
The former head of the International Chamber of Shipping, Elie Zakhour, says that adopting the new customs dollar of 45,000 Lebanese pounds, in light of the spread of corruption in most state departments and the absence of accountability and an independent and fair judiciary, will encourage corrupt merchants to resort to smugglers to import their goods, which will deprive the state treasury of customs and tax imports. On the added value (VAT) that will inevitably fall into the pockets of smugglers, greedy traders and corrupt employees!
Contrary to what Minister Khalil says, adopting the new customs dollar exchange rate of 45,000 Lebanese pounds will not lead to securing more revenues, because the import movement through all sea, air and land gates will inevitably decline, due to the fullness of merchants’ warehouses and warehouses with various types of goods, commodities and cars. Used and new ones that were previously imported, when the exchange rate of the customs dollar was 1507.5 Lebanese pounds, waiting to be sold after the approval of the customs dollar at 15 thousand pounds and currently at 45 thousand pounds, which allows them to make huge profits.
The former head of the International Chamber of Navigation, Elie Zakhour, asked the officials and the owners of the solution and link, if they took note that the poverty rate in Lebanon had reached more than 80% of the Lebanese people, and the unemployment rate had reached more than 32%, and that the minimum wage had become no more than 5 million pounds. per month, about 70 US dollars, and less than 2.5 dollars per day.
Zakhour also asked these officials if they also took note that the majority of citizens are unable to buy medicine, enter hospitals, and pay electricity and water generator bills, and that they are unable even to secure a living for their children or their families!
It is also unfortunate that the adoption of the new exchange rate of the customs dollar, amounting to 45 thousand pounds, was not accompanied by, as it was imposed and financed, raising the price of the dollar of depositors in banks, which currently amounts to 15 thousand pounds, while its exchange rate on an exchange platform rose to 70 thousand pounds and on the black market to More than 80 thousand!
Finally, it must be emphasized that the adoption of the new customs dollar exchange rate in light of the current conditions will not lead to an increase in customs imports and the value-added tax. On the contrary, it will contribute to a decline in import movement and a doubling of smuggling operations…
Tomorrow we will see it soon!