News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
19
o
Mount Lebanon
19
o
Metn
22
o
Keserwan
22
o
North
19
o
South
19
o
Bekaa
13
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Al Arbaji - Season 2
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
19
o
Mount Lebanon
19
o
Metn
22
o
Keserwan
22
o
North
19
o
South
19
o
Bekaa
13
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Lebanon's customs dollars threatens car import sector: report
Lebanon Economy
2023-03-07 | 07:49
High views
Share
Share
2
min
Lebanon's customs dollars threatens car import sector: report
Within Lebanon's current socio-economic collapse, productive sectors in the country, including the car import sector, are threatened, as the financial crisis deeply infected the trade movement.
The decision to raise the "customs dollar" on imported cars from abroad had a profound impact that led to an increase in their prices after adjusting it from 1,500 LBP to 45,000 LBP in just two months.
According to an article published by Independent Arabia, the crisis developed with a significant rise in fuel prices, which led many Lebanese to abandon large cars and replace them with smaller and more economical ones.
This will lead to a decline in the profits for gas stations and, thus, the closure of several of them.
Walid Francis, head of the Syndicate of Car Showroom Owners, revealed to the newspaper that shipping of cars from abroad will stop due to the prevailing "customs chaos" in the country, which will lead to the loss of the state treasury basic income.
Explaining that the calculations reveal that as a result of the customs dollar, which is set at 45,000 LBP, the car showrooms’ sales will decline by 90 percent, after they had previously declined by 50 percent after raising the customs dollar to 15,000 pounds per dollar and indicated that once Lebanon used to import 50,000 per year.
The Lebanese government has previously decided to triple the customs dollar, which ultimately led to causing a significant increase in the prices of imported goods subject to customs fees. The decision was taken due to the government's lack of funds, which became severely depleted.
Breaking Headlines
Lebanon Economy
Lebanon
Economic
Crisis
Car
Imports
Sector
Customs
Dollars
Collapse
Productive
Trade
Next
Lebanon's Economy Ministry, WFP sign agreement to enhance price transparency and consumer protection
Recommended For You
d-none hideMe
0
Lebanon News
08:39
Pierre Achkar affirms: Holiday season 'positives' won't affect hotel establishments
Lebanon News
08:39
Pierre Achkar affirms: Holiday season 'positives' won't affect hotel establishments
0
Lebanon Economy
2024-03-26
Fuel prices rise across Lebanon
Lebanon Economy
2024-03-26
Fuel prices rise across Lebanon
0
News Bulletin Reports
2024-03-25
Lebanon's debt crisis: A race against time for Eurobond resolution
News Bulletin Reports
2024-03-25
Lebanon's debt crisis: A race against time for Eurobond resolution
0
News Bulletin Reports
2024-03-22
Lebanon's healthcare: Will hospitals adhere to the new tariffs?
News Bulletin Reports
2024-03-22
Lebanon's healthcare: Will hospitals adhere to the new tariffs?
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
2024-01-31
Behind-the-scenes plan: Israeli government crafting Gaza's post-war scenario
News Bulletin Reports
2024-01-31
Behind-the-scenes plan: Israeli government crafting Gaza's post-war scenario
0
Israel-Gaza War Updates
2024-02-21
Israeli war cabinet member Benny Gantz reports 'promising early signs' on hostage deal
Israel-Gaza War Updates
2024-02-21
Israeli war cabinet member Benny Gantz reports 'promising early signs' on hostage deal
0
Variety and Tech
2023-09-28
Lebanon's Amin Maalouf Takes the Helm: Elected as Perpetual Secretary of the French Academy
Variety and Tech
2023-09-28
Lebanon's Amin Maalouf Takes the Helm: Elected as Perpetual Secretary of the French Academy
0
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
02:44
Ministry of Energy urges TotalEnergies to deliver Block 9 drilling results report: LBCI Sources confirm
Lebanon News
02:44
Ministry of Energy urges TotalEnergies to deliver Block 9 drilling results report: LBCI Sources confirm
2
Lebanon News
07:51
Lebanon's springtime splendor: A journey through nature's canvas in pictures
Lebanon News
07:51
Lebanon's springtime splendor: A journey through nature's canvas in pictures
3
Israel-Gaza War Updates
05:05
Over 1.1 million in Gaza face 'extreme' food insecurity: UN reports
Israel-Gaza War Updates
05:05
Over 1.1 million in Gaza face 'extreme' food insecurity: UN reports
4
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
News Bulletin Reports
12:00
Navigational Spoofing: Challenges in the Middle East Skies
5
News Bulletin Reports
13:28
UNHCR and WFP aid reduction: A threat to Syrian families in Lebanon
News Bulletin Reports
13:28
UNHCR and WFP aid reduction: A threat to Syrian families in Lebanon
6
News Bulletin Reports
12:02
Israeli Diplomatic Maneuvers: Negotiating Amidst Internal and External Pressures
News Bulletin Reports
12:02
Israeli Diplomatic Maneuvers: Negotiating Amidst Internal and External Pressures
7
Israel-Gaza War Updates
03:26
Israeli strikes persist amidst 'intense' clashes in Gaza
Israel-Gaza War Updates
03:26
Israeli strikes persist amidst 'intense' clashes in Gaza
8
Israel-Gaza War Updates
05:32
Latest figures: Gaza Health Ministry reports 32,552 martyrs, 74,980 injured
Israel-Gaza War Updates
05:32
Latest figures: Gaza Health Ministry reports 32,552 martyrs, 74,980 injured
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More