BEIRUT, Sept. 7 (Xinhua) -- Ghassan al-Amine, head of the Lebanese Order of Pharmacists, said on Monday that the pharmaceutical sector in Lebanon is collapsing as the country has stopped importing 50 percent of the medicines due to U.S. dollar shortage.
"Lebanon is now barely importing medicines and the stock available at importers will barely last for one and a half months which is scary," al-Amine said, according to Lebanon 24, local news agency.
Al-Amine urged Lebanese authorities to allow importers to exchange their Lebanese pounds to U.S. currency at the official rate of 1,515 pounds per dollar to import the needed medicines.
Lebanon has been suffering from a shortage in U.S. currency which prompted banks to impose unofficial capital control causing big issues for importers.
Some importers are resorting to the black market to purchase dollars at higher rate of at least 7,000 pounds per dollar, which causes a steep hike in the prices of imported items.
Al-Amine also noted that 300 pharmacies in Lebanon have shut down due to the crisis, while 1,000 others will not be able to sustain the situation any longer. Enditem
