Lebanon is drinking the “bitter medicine” .. The street is preparing...

The land transport sector unions and the General Labor Union in Lebanon refused to lift subsidies on basic commodities and fuel in a decision that was initiated between the government and the Banque du Liban.

The unions warned that this step, which would increase prices sharply, would be the spark to ignite the country, and they announced a popular move, which will be scheduled for later.

In Lebanon, meetings are being held between officials and the Bank of Lebanon to discuss how to lift the subsidy and the mechanism that will be adopted to compensate for it, after an unprecedented decline in foreign currency reserves.

The data indicate that the reserves available at the Central Bank of Lebanon amount to only about one billion and 800 million dollars, noting that the support costs the Banque du Liban about 600 million dollars.

In a press conference held by the heads of the relevant sectors from the land transport sector federations and unions, the president of the General Labor Union, the Truck Syndicate, drivers and others, the head of the land transport sector federations and unions, Bassam Talis, said that removing the subsidies on goods, foodstuffs, fuel, medicine and wheat would lead to a major social explosion.

He added, “It seems that the decision has been taken, but today we will talk about the aspect related to fuel, because the lifting of subsidies on gasoline and diesel will raise the price of a gasoline plate to 70,000 Lebanese pounds (today its price is about 25 thousand) and diesel to between 45 and 50 thousand pounds, which will lead to A social disaster in light of the difficult economic conditions the country is going through.

He stressed that according to the information available to him, the beginning of the lifting of subsidies on gasoline will be the end of this month, and he warned the government not to take this step because it will be the spark to ignite the country.

He called the land transport sector federations and unions to a meeting to be held on October 19 to announce the date for action and strike to counter this decision in cooperation with the leadership of the General Labor Union.

For his part, President of the General Labor Union, Bishara Al-Asmar, said, “As soon as any step to lift support is announced, we will immediately take to the streets, because what is happening is unacceptable and is a call to displace the Lebanese people.”

He added, “Our mission is to secure a decent life for the Lebanese people … We will not agree to the decision to lift the subsidy. We are on a date with the street if the subsidy is removed from the basic materials.”

The head of the Syndicate of Tanker Owners, Fuel Transporters and Distributors Fadi Abu Shakra considered that “the solidarity between the land transport unions and the General Labor Union confirms the cohesion and unity of the position,” and warned “against lifting the subsidies because it causes a social catastrophe nationwide,” blaming “the responsibility for the Banque du Liban and the banks.” .

Lebanon has been suffering from a severe economic crisis that has gradually worsened since last October, while the exchange rate of the dollar is witnessing an unprecedented rise, as it touched the barrier of 10,000 pounds after it had been stable for years at 1,500 pounds.

Lebanon needs financial liquidity quickly after it was unable to pay off huge sovereign debt obligations after the crisis paralyzed banks.

The Beirut port explosion, which killed about 200 people, added a new financial burden on the country estimated at about $ 4.6 billion.

The central bank is using diminishing foreign exchange reserves to support major imports such as wheat, fuel and medicine.

The removal of subsidies, which the central bank said could not last indefinitely, will cause more suffering and may inflame tension.