Arab Today, arab today safadi committed to honoring salary increase once
Last Updated : GMT 05:57:45
Arab Today, arab today
Arab Today, arab today

Safadi committed to honoring salary increase once

Arab Today, arab today

Arab Today, arab today Safadi committed to honoring salary increase once

Beirut - Arabstoday

Finance Minister Mohammad Safadi said over the weekend that his ministry was committed to settling all financial dues to cover for a public sector wage increase that became effective in February. The minister added that $400 million would be paid by the end of September on top of $600 million that has been settled in arrears to contractors since the beginning of the month. Safadi rebuffed reports that his ministry was delaying payments. “These reports are utterly incorrect,” the minister said. But he warned that if suggested tax hikes to fund the salary scale were rejected, the government would not be able assume its financial obligations. “If suggestions for new taxes are rejected, how will we be able to cover the salary scale?” he asked in remarks to the Central News Agency Saturday. Prime Minister Najib Mikati had stressed that Cabinet would not backtrack on the promised salary increase. “We are not backing down from this issue. The decision has been made in Cabinet, and we are looking to guarantee sources of funding for the hike,” Mikati said. “The Cabinet is taking its time in this matter, with the aim of finding sources [of revenue] that do not burden citizens, the economy or monetary stability,” he added. Mikati was responding to the Union Coordination Committee, a coalition of private and public school teachers and public sector employees, which threatened Thursday to stage a nationwide strike within 10-days if the government failed to implement the long-awaited salary increase. The committee is asking the government to refer the bill, which it has already approved, to the Parliament for final approval. The Cabinet is still studying the means to fund the increase, which will cost the treasury around $1 billion a year, according to estimates. In a bid to fund the salary hike, the Cabinet has levied new taxes, slapping an additional LL1,000 on every land line and cellular bill, raising taxes on the profits netted by lottery winners from 10 to 15 percent, and imposing fines on people who maintain illegal coastal properties. The Cabinet has said it will pay the raise over a five-year period. In remarks published by the daily An-Nahar, Mikati said that there was no cause for the committee to call a protest, as the government is committed to referring the salary increase to Parliament, but only after having figured out how to secure the money to fund the hike. “There is no reason to return to protesting. Since the government is going along with the [increase], why protest? And for what?” he asked. Central Bank Governor Riad Salameh said the salary increase was essential but must not have monetary consequences that lead to inflation, which in turn would increase the balance of payment deficit. “Pumping liquidity [into society] all at once [encourages] consumption and increases imports, which in turn raises trade deficit, not to mention the treasury’s deficit,” Salameh said. Lebanon’s Economic Committees, a grouping that represents the private sector, have warned that the new pay scale would have “catastrophic” consequences on the country, and have renewed their rejection of any tax increases, particularly the proposed hike on taxes that banks pay to the state. From DailyStar

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today safadi committed to honoring salary increase once Arab Today, arab today safadi committed to honoring salary increase once

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today safadi committed to honoring salary increase once Arab Today, arab today safadi committed to honoring salary increase once

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 05:54 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday