Mohammad Shoucair , President of Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon told Al Nahar newspaper in remarks published on Wednesday that he rejects the proposal of General Labor Confederation Union leader Ghassan Ghosn over the increase in minimum wage stressing that such an increase will bankrupt 80 % of the Lebanese private companies.

He stressed that the economy is in such a terrible shape that companies cannot even afford to increase the minimum wage by 100, 000 Lebanese pounds and asked :”Can you imagine what will happen if the minimum wage is raised to 1,250,000 Lebanese pounds as being proposed by Ghosn?”

He said such a minimum wage is not even available in some European countries such as Spain and Greece.

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