Complaint against Ministry of Economy for 'Wasting' Public Funds

Director of Media Focal Center, Salem Zahran, filed a complaint on Monday with the Public Prosecution Office to investigate the “waste of public funds" in the Ministry of Economy and Trade specifically in subsidized food commodities.

“Millions of dollars were paid from the people's confiscated deposits at Banque du Liban to merchants under the title “subsidizing food commodities.” Instead of prices dropping, they rose, as the Minister of Economy admitted. Accordingly, we registered a complaint with the prosecution to identify and arrest the merchants who plundered our money and recover it immediately,” said Zahran.

Outgoing Economy Minister Raoul Nehme had in July introduced subsidies to some 300 basic commodities in light of a severe devaluation of the Lebanese pound to the dollar that increased the prices of goods uncontrollably.

“It aims to secure the majority of essential goods for citizens at a low price, and thus increase their purchasing power,” he had said.

But his move only pushed a further increase in prices, although he vowed “we will monitor the prices and pursue traders or distributors in the event of tampering.”

In a video recording filming Zahran from the Justice Palace, he said all merchants responsible for the spike in prices of commodities must be jailed under Article 685 of the Penal Code.

Lebanon is reeling under an unprecedented economic crisis, coupled with the coronavirus outbreak and latest, a colossal Beirut port explosion that flattened large parts of the capital killing and wounding many.

The currency has crashed in value to the dollar, and banks locked down dollar accounts to prevent capital flight. Prices have skyrocketed, and imports are limited in a country that imports nearly everything. Unable to access their money, even the most able are struggling to secure materials for repairs.