Report: Baabda Meeting to Approve Importing Fuel at LBP 3,900 Rate

President Michel Aoun will on Thursday preside over a meeting at the Baabda Palace that will take a decision to approve importing subsidized fuel at a rate of LBP 3,900 for the dollar, MTV reported on Wednesday.
The meeting will be attended by caretaker Prime Minister Hassan Diab, caretaker Energy Minister Raymond Ghajar and Central Bank Governor Riad Salameh.

In most countries, petrol is rationed to stop pollution, or minimize it, while in Lebanon they subsidize it to be cheap thus leading to excessive pollution. In most countries, even the poor ones like Greece, the liter of petrol sells for 2 dollars, which means that poor people, or even middle class people, use other transportation system, like buses, metro, and tram. This is the way forward and not another subsidization that only aggravates the problem of Lebanon. In general support should be removed completely, and temporarily, poor families supported through some sort of benefit card, while the rich, who in Lebanon are estimated to be more than 50%, should pay tax on petrol, let alone benefit from subsidization. This is one of the ways to be used if Lebanon is ever going to be a country. In addition to that, and as happened in Greece, half the public employees should be removed, either through early retirement or firing.