Diab Gives Extraordinary Approval for Importing Fuel at LBP 3,900


Caretaker Prime Minister Hassan Diab on Friday granted extraordinary approval for a decision under which the central bank will subsidize fuel imports at a rate of LBP 3,900 for the dollar instead of LBP 1,500, which will effectively hike the prices of fuel in the market.

Media reports had said that Diab had shown reluctance to approve the move on Thursday, after the decision was taken at a Baabda meeting chaired by President Michel Aoun.

In a statement issued Friday, Diab said his approval aims to “secure fuel for citizens for the three coming months, especially that we are on the verge of a summer tourism season that will lead to a surge in the foreign currencies that will enter Lebanon with the arrival of expats and tourists.”

He added that his approval comes after he agreed with President Michel Aoun on a “new format.”

The move is expected to ease a major fuel shortage crisis that Lebanon witnessed in recent weeks.

Comments 2
Thumb cedar 25 June 2021, 19:38

Tourism season... Arrival of tourists... Are these people insane. There is a global pandemic - no one cares about tourism in Lebanon. Get your house in order before thinking about 'tourists' .

They think Lebanons image and appeal still exists like Dubai or something . They are Totally lost! Lebanons appeal is about as bad as Afghanistan right now.

Default-user-icon GermanLeb (Guest) 26 June 2021, 08:50

Weil not as bad as Afghanistan maybe, but even someone like me, who as always encouraged people to visit Lebanon is telling everybody at the moment: don‘t go there.