The Lebanese authorities could authorize the importation of fuel oil at the parity rate of 3,900 LL / USD instead of 1507 LL / USD as currently. This decision aims to reduce social and economic tensions pending the adoption by parliament of more appropriate measures.
Thus, a meeting should be held at the Presidential Palace of Baabda in the presence, in addition to the Head of State, General Michel Aoun, outgoing Prime Minister Hassan Diab, the Minister of Energy and Water Resources Raymond Ghajar and the Governor of the Bank of Lebanon, Riad Salamé should endorse such a measure aimed at extending for a short time only the fuel purchase subsidy program.
This information also comes as the shortages affecting both the transport sector but also the production of electricity via generators are worsening.
According to observers, it would be a question of at least temporarily limiting the inflationary effects that a sudden increase in prices could induce after the end of the subsidies granted to basic necessities.
As a reminder, the cost of the program was 700 million dollars during the period preceding the current crisis. It has fallen to $ 500 million currently, or $ 6 billion per year, of which $ 3 billion is for fuels alone.
This information comes as demonstrations take place in particular in northern Lebanon to protest against gasoline shortages affecting both motorists but also neighborhood generators, an essential service due to increasingly severe cuts in electricity. public.
Last week, the outgoing Minister of Electricity declared that the price of 20 liters of fuel could exceed 200,000 LL in the event of the lifting of subsidies against 43,000 LL currently. He also called on the population to find alternative means of transport when the foreign currency to continue to finance this program is now running out.
