The Beirut Traders Association presented a slate of recommendations last Wednesday, to help revive Lebanon's economic state. The requests included the establishment of a governmental advisory committee comprised of representatives from the economic sector as well as the Ministries of Trade and Finance, to meet on a monthly basis; reductions in both interest rates and social security taxes; a 3- year grace period for repayment on banking loans; and modernization of income tax codes as well as the National Social Security Fund, the Daily Star reported.
In response, the Banks Association announced initiation of research aimed at gradually reducing interest rates and re-scheduling debts. Since the NSSF did not respond to requests for reform, BTA President, Nadim Assi, issued a warning stating that should the NSSF fail to reorganize, employer representatives would be forced to resign.
© 2000 Mena Report (www.menareport.com )