The president of Mount Lebanon Trade Association, Nassib Gemayel, launched an urgent appeal to save the commercial sector from a possible collapse, warning against the closure of thousands of establishments.
“We urge bankers to provide merchants with facilities by reducing banking restrictions and securing the necessary funds for traders to enable them to import products and operate normally again,” Gemayel said in a statement.
“Today, the commercial sector is in its worst and most difficult situation, especially after we lost the Christmas and New Year season and with the absence of Arab and Gulf tourists and even expatriates,” he added.
Gemayel called on Finance Minister in the caretaker government Ali Hassan Khalil to take the appropriate measures to protect the national economy and Lebanese labor force.
He noted that the closure of thousands of companies soon would result in the lay-off of thousands of employees which would create a social disaster in the country.
The head of Mount Lebanon Trade Association also said that banks should reduce interest rates on loans offered to merchants and companies in a bid to allow businessmen to overcome challenges.
“How can merchants and business people pay back their loans to banks if they are not able to operate properly?” he asked, warning that merchants would be out of products soon.
