THE PRIVATE SECTOR CALLS FOR THE MODIFICATION OF THE SUBSIDY MECHANISM AND DENOUNCES THE ACCUSATION OF IRRESPONSIBILITY.

To solve the dilemma of importing supplies and materials the support subsidy should go to the persons who are most in need

The Lebanese Private Sector Network advocates that a fair policy be put in place to solve the issue of importing vital supplies, medical materials, and other essential goods. The solution lies in providing direct support to the persons that have limited income and stopping the support for importers, provided that this support is transferred to the citizen directly.

It is precisely this faulty and easy way of spending depositors’ money for the past two years, that continues to be practiced by an irresponsible governance, that has led to the catastrophic situation of depleting all depositors’ money with no tangible results.

Moreover, private sector companies have become an easy target, unjustly bearing the misfortunes and the problems that originally came from the mismanagement of the state and its wrong governance.

The productive and responsible private sector is going through an existential crisis and is facing all kinds of risks and obstacles in a fierce attempt to change Lebanon's economic face.

The private sector institutions have suffered from the crisis much like all Lebanese. It is thanks to their implementation of good management, successful financial, commercial, and marketing policies that they have managed to survive and persevere. Employees were able to keep their jobs, with improved financial conditions and purchasing power, keeping them away from immigration.

Accusing the private sector of reaping profits and escaping from national responsibility is a flagrant fraud to punish success and glorify failure and populism. Since the beginning of the crisis, the private sector has shown its keenness on survival, continuity, creating jobs and productivity opportunities, implementing social plans and policies, humanitarian aid, and facilitating relations with international companies in terms of paying dues for imported goods. Noting that the funds of the private sector companies were held in the banks, as is the case with all depositors.

The sector was and still is the main support and the cornerstone of the Lebanese economy and will remain as it has always been, committed and active in defending a free, responsible, and productive economy, and putting all its experiences, creativity, and capabilities to advance a healthy, successful, and bright Lebanon at all levels and in all fields.

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ABOUT THE LEBANESE PRIVATE SECTOR NETWORK

The Lebanese Private Sector Network is a group of businesswomen and men as well as practitioners of liberal professions from the private sector volunteering and working to respond to the economic collapse and its impacts while lobbying towards long-term change within the Lebanese economy