Thursday, February 14, 2008

Ecartèle

Lebanese cartels:Companies controlling 50% of the market: One company for the butane gas market (the only way to cook at home). 5 companies for the drugs (medicines) market. 5 companies for the foreign exchange market. 5 companies for the insurance market. 3 companies for the cement market (in the country of the never ending reconstruction). 3 companies for the market of bottled water (in the country of polluted tap water).

From a study by the Ministry of Economy, published in Al Akhbar, the best newspaper around.

1 comment:

Samir said...

Most interesting. This is one of the most appalling aspects of the Lebanese economy.

Actually, there aren't even 5 "companies" on the drug market. These 5 companies are owned by the same two families, and these two families are related by marriage.

And what's beyond chutzpah is that those who attack the pharmaceutical industry monopolists and want to regulate it are accused of threatening Lebanon's "free market economy".

This is Lebanon's ultimate paradox : Cartels preaching about the virtues of competition and free markets !