Energy Minister Fayad to LBCI: The fuel tender is legitimate and adherent to the law

The caretaker Energy and Water Minister, Walid Fayad, has stated that the electricity plan has successfully improved power supply.

However, he acknowledged the Banque du Liban (BDL) dilemma that requires resolution, emphasizing that caretaker Prime Minister Najib Mikati has not objected to their work.

On LBCI's "Nharkom Said" TV show, Fayad clarified that the fuel import tender is based on a decision by the Cabinet. He highlighted that they had conducted two tenders based on the Cabinet's resolution, refuting claims that the fuel oil does not meet specifications.

Fayad stressed "the need for a new fuel shipment," asserting that securing this shipment is not misguided. He acknowledged the challenges faced as a government in the evolving relationship with the BDL concerning foreign currency reserves.

He pointed out that the BDL's governance does not differentiate between converting Lebanese lira to dollars and providing the government with dollar amounts.

Regarding his meeting with the acting BDL Governor, Wassim Mansouri, Fayad disclosed that Mansouri informed him of his different approach compared to the previous central bank governance.

Mansouri focused on institutional stability and prevented the BDL from becoming disproportionately large. Fayad also mentioned Mansouri's desire for a new mechanism if the old one is not adopted for the fuel shipment, stating that there is no concrete indication of the opinion of the Prime Minister.

Furthermore, the minister explained that by increasing the electricity supply, people can save on private generator usage. He pointed out that removing encroachments results in taxation matters and increases revenue. He noted that after installing meters, it is now possible to determine the value of taxation in Palestinian camps.

Regarding the fuel tender, Fayad emphasized its legitimacy and adherence to the law, as per the Cabinet's decision in January.