Representative Hassan Fadlallah, in his speech to the Finance and Budget Committee, stated that “our demand is that there be a clear plan for financial and economic recovery without auctions, slogans and disputes. This is unlikely to be a waste of time, but it is necessary “. seriousness and practical, workable proposals.”
Fadlallah noted that “what we have heard from Prime Minister Designate Najib Mikati are new ideas that undermine what was previously presented to us in the government’s recovery plan, which we are discussing when it will be published and formalized in accordance with with the rules.” in cooperation with the Council, develop a formal plan, and this, in turn, requires an effective and capable government.”
He explained that “these ideas are related to the creation of a new fund, and in Lebanon there is always a shortage of funds, but there is theoretical funding. Even the proposed $10 billion in CDs is only mathematically available.”
He added: “It’s like having a $100,000 ceiling handed over to a saver. We demand that the rights of depositors be fully preserved, such as expatriates who have worked abroad and brought their money to Lebanon. is it his fault that he is deprived of his money?
He emphasized: “We, as a bloc (Loyalty to the Resistance), insist that no distribution of losses be made at the expense of the contributor or citizen, but rather bear the responsibility of the one who brought the country to this collapse, and there are practical ideas for the distribution damages and fair we previously offered, and among them the one who unfairly won pays. His project, especially from a series of presidents, ministers, representatives, employees and contractors, and the state can track them down and request international assistance, and we are against paid out of their own money, offering the idea of selling public funds.
He believed that “banks should be primarily responsible for how depositors’ money is managed. The size of what they are offering us is not enough. The depositor deposits his money in the bank. regain trust.
He pointed out: “We are cooperating with the authorities, but the government has certain responsibilities, since the budget is stuck on determining the exchange rate and the customs dollar, and this is the responsibility of the government. Since income is based on one price and spending is another price, there is a structural problem as we pay the public sector at $1,500 and cost at $20,000, and that sector is suffering today, it’s not the time to allocate or juggle responsibilities, the government there is authority it can assume to resolve the outstanding issue in the budget and proposed laws.
The council is also responsible for passing laws, but these laws must be within the clear vision of the recovery plan.”
Source: El Nashra