Mikati urges parliament to fast-track borrowing law amid BDL concerns during Grand Serail session

After Tuesday's session at the Grand Serail, caretaker Prime Minister Najib Mikati announced that Article 4 of the "Cabinet's Organizational Decree" stipulates the mandatory submission of law projects and regulatory decrees at least a week before their discussion in the Cabinet.

Mikati stated, "Yesterday, we distributed a draft law granting the government permission to borrow from the Banque du Liban (BDL) in foreign currencies. This implies that the discussion might take some time, and the BDL needs a faster pace."

"Therefore, I propose that a draft law be presented by MPs to address this issue, especially since some might object to a draft law coming from the government, which would further waste time. The parliament can make the decision it deems appropriate through this proposed law," he said.

On another note, Prime Minister Mikati inquired the Finance Minister about the forensic audit report's status, to which the minister surprised him by stating that the final report is expected in the upcoming days. Mikati requested the minister to publish it promptly, following its receipt accordingly.

Additionally, Mikati expressed his gratitude to the Education and Higher Education Minister for the efforts made by the ministry's team to conduct the official exams, whose results have begun to be issued on Tuesday. 

The Cabinet proceeded to complete the study of the budget law and will convene for a new session next Thursday afternoon.