(Credit : Phillipe Hage Boutros/OLJ)
Implementation of the decision allowing supermarkets to display the prices of their goods in US dollars has been postponed to March 1, said the president of the union of supermarket owners Nabil Fahed to L'Orient on Tuesday.
The decision was announced at a press conference last Thursday by the outgoing interim Minister of Economy and Trade Amin Salam.
Supermarket owners need more time to implement the new pricing mechanism, Fahed said.
Considering the time needed to adapt supermarket computer systems to the dollarization of prices, the process should begin on the first of March, he confirmed. The Ministry of Economy did not respond to requests for clarification on this deadline.
The change in the pricing of food products from the Lebanese lira to the US dollar is linked to the economic crisis in the country and it has been on the agenda of discussion between the ministry and professionals in the sector for several weeks.
Once the transition comes through, prices of goods will be displayed in dollars. However, local products like bread, fruits, vegetables and cigarettes will continue to be priced in Lebanese lira. Goods can be paid for in Lebanese lira at the dollar-to-lira rate of the day, which will be clearly displayed in supermarkets.