(MENAFN) Head of the Beirut Traders Association suggested that trade activists in Lebanon are ahead of a grave challenge with the country seeing a 50 percent decline in various areas during the first six months this year.
Chief Nicolas Chammas stated "the commercial sector is on the verge of collapse and Lebanese officials did not make any effort in adopting the necessary measures to improve merchants' conditions."
The statement has been made by the head at a meeting with merchants and several commercial and economic syndicates at the headquarters of the association in Beirut.
The adoption of the salary scale law failed to result in a boost in the trade activities in the country as anticipated, Chammas noted.
He added "on the contrary, this law resulted in an increase in taxes to finance the salary scale which, in turn, caused a drop in people's purchasing power.
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