Economy Minister Bans Pricing in Foreign Currency

Minister of Economy and Trade Mansour Bteish on Friday issued a circular concerning the need to price goods and products in the Lebanese currency.

“Pursuant to the laws and regulations in force, in particular Article 5 of the Consumer Protection Law, which stipulates that traders must declare the price in Lebanese pounds in an apparent manner either on the item or on the shelf presented to him,” said the circular.

“Some traders have deliberately announced prices in dollars, contrary to the law, which may create confusion in the financial markets and negatively affect the interest of the consumer. The Ministry of Economy and Trade requested all traders to declare prices in Lebanese pounds and comply with the legal texts in force,” it added.

The circular noted that the necessary legal action will be taken to bring violators before the competent court.

Source: Naharnet

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