ABL head Francois Bassil says solving pay scale crisis at the expense of banks is detrimental

Lebanon News
11-04-2014 | 03:15
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ABL head Francois Bassil says solving pay scale crisis at the expense of banks is detrimental
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ABL head Francois Bassil says solving pay scale crisis at the expense of banks is detrimental
Head of the Association of Banks in Lebanon Francois Bassil held on Friday a press conference in which he asserted that the demands of the Union Coordinating Committee are righteous.

However, Bassil noted that the ways to put an end for the pay scale crisis via imposing taxes on banks will have negative impacts on the Lebanese banking sector.

He also noted that the ABL never gave up on the Lebanese people and offered all the necessary help to the state.

Bassil stressed that the new pay scale should be studied with the concerned economic committees and the ABL.

This comes as banks located in Jbeil and Amchit closed their doors today (Friday) upon the call of the Association of Banks in Lebanon, the state-run National News Agency reported.

On Thursday, the Head of the Association of Banks in Lebanon announced the closure of banks in protest against tax measures proposed by the Joint Parliamentary Committees which reconvened to hold further discussions over the pay scale draft law.

The committees also approved an item on imposing taxes on maritime properties to finance the salary scale.

The Union Coordinating Committee resumed its movements a couple of weeks ago calling on the authorities to pass the pay scale, which stipulates a wage hike.

The decision to revive movements came as a result of the failure of the Joint Parliamentary Committees to resolve the dispute on the Value Added Tax in a proposal aimed at securing the funds for the salary scale that was approved by former Prime Minister Najib Mikati's cabinet.

Former PM Mikati's cabinet endorsed the new salary scale for public employees in 2012, ending a long dispute that had triggered several sit-ins and strikes held by the UCC.

President Michel Sleiman signed the decree mid-June 2013 and it was referred to the Joint Parliamentary Committees for further examination, however the law was never passed to parliament.

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