The Damascus Securities Exchange announces the shareholders excluded from government support

The “Damascus Securities Exchange” excluded a category of shareholders from government support, hours after the Syrian government announced the exclusion of categories of high-income earners.

The Damascus Stock Exchange said in a statement via “Facebook”: “The exclusion from the support will include the major shareholders, that is, the owners of 5% of the company’s shares and above.”

This came hours after the Minister of Internal Trade and Consumer Protection, Amr Salem, announced the exclusion of people from government subsidies regarding gas, and mentioned them as “shareholders of companies listed in the stock markets.”

The statement clarified that the shareholders concerned in the minister’s statement are the major shareholders, that is, the owners of 5% of the company’s shares or more.

Salem said in a press conference earlier today, Wednesday, that “more than half a million citizens will be excluded from support before the end of the year.

He explained that the excluded segments will include first, premium and second-class merchants, large shareholders, medium and senior taxpayers, lawyers practicing the profession for more than ten years, doctors and specialists practicing the profession for more than ten years, managers of private banks, contributors to large activities, and large shareholders in banks.

At the conference that followed the announcement of the rise in subsidized domestic gas prices, the minister said that “unfair sanctions against Syria make the process of importing gas almost impossible, and the price of gas has risen in the region in general, including Europe, from which gas comes.”

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