The Gas and Fuel Unions Warn: The Newly Introduced Laws Regarding the Banking Sector Will Lead to the Collapse of the Fuel and Gas Sectors

SadaNews - The unions of fuel station owners and gas filling companies in the West Bank held an urgent meeting today to discuss the statements made by the Palestinian Monetary Authority regarding the preparation and issuance of a law on cash reduction.

The unions stated in a joint statement after the meeting that this law would represent a real setback that would significantly affect all economic sectors in Palestine, especially the fuel and gas sectors.

The statement added that there is a continuous and direct targeting of these sectors through these arbitrary measures, in addition to the rejection of deposits and the restriction on issuing checks without regard to any banking instructions agreed upon with the Monetary Authority.

It also pointed to the government's efforts to activate Law No. 5/2023 and the licensing and fee system No. 7/2024, which will impact the Palestinian citizen.

The statement warned that these newly introduced and unstudied laws would lead to the collapse of the fuel and gas sectors, in addition to serious repercussions on the entire Palestinian economy.