Ministry of Finance and Orders of Engineers cooperate

The Orders of Engineers of Beirut and the North signed a Memorandum of Understanding with the Ministry of Finance (MoF) for a mechanism to implement the pension law for order members.

The 1964 law called for deducing 20 percent of the annual income tax paid by engineers and adding it to their retirement fund. The process required to implement this measure was absent in past years. Through the memorandum, the MoF will transfer the funds to the accounts of the two orders at the end of each fiscal year.