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Energy Ministry says no sustainability in implementing electricity plan without importing fuel

18-08-2023 | 11:09

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Energy Ministry says no sustainability in implementing electricity plan without importing fuel

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The Ministry of Energy and Water affirmed on Friday that there is no sustainability in implementing the electricity plan and increasing the power supply without importing fuel, including Iraqi fuel.

The Ministry said the funds for the fuel shipment are allocated as part of the $300 million amount, as per the government's decision published in the official gazette last January. Only $193 million has been utilized so far, leaving $107 million.

Moreover, it added that the most recent letter of credit for the fuel shipment is worth $58 million (not $80 million as previously stated). The Minister of Finance has approved this letter of credit and requests the Central Bank of Lebanon to execute it.

The Ministry then urged anyone with questions to address the relevant authorities, namely the government, the Ministry of Finance, and the Central Bank.

"Any other statements are misleading to the public and are far from the truth, bordering on bias towards banks and private generators," it mentioned.

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