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It says in “Al-Markazia”:
With the two billion dollars of the non-compulsory reserve of the Central Bank of Lebanon, the lifting of the subsidies in the vital sectors remains a matter of nuisance, without announcing any final decision yet despite the multiple proposals in the context, especially since the resigned government headed by President Hassan Diab refuses and avoids taking the step and bearing the consequences. Specifically, the social and popular anger that may accompany it.
More than one piece of information has been released on the possibility of reducing gasoline import subsidies from 85 to 60 percent at the start of the new year, raising the price of the plate from £ 25,000 to between £ 35,000 and 40,000. How accurate is this data?
The member of the Gas Station Owners Union, George Brax, denied, through Al-Markaziyah, “the authenticity of the news,” noting that “no decision has yet been settled, and for more than four months the The issue of dividing the subsidy to extend it to the maximum, and the union was the first to present this proposal and it was repeated. It was raised during meetings to discuss the elimination of subsidies, noting that the union opposes stopping subsidies in all its shapes. We do not know if they will withdraw the support or not. This decision is not easy, be it total or partial, and the government of President Hassan Diab does not want to adopt it. “
He continued: “In case of stopping the subsidy, many questions remain to be clarified, since the percentage that importing companies will obtain in dollars in cash, whatever they may be, will subsequently require that the owners of the stations ensure liquidity in hard currency.” asking, “Where did we get it off the black market?” ? Noting that “an idea was raised in the framework, to set the pace of the exchange rate by the Banque du Liban, and based on allowing commercial banks to sell dollars to importers in the free market, that is, between 8000 and 8500 per dollar. If the subsidy is lifted, no matter what In percentage, the amount of dollars that will be obtained from the black market is twice the amount currently handled by the free market, that is, between 4 and 5 million dollars, which leads to an increase in the price of the dollar in the range of 10 and 15 thousand pounds. However, this proposal did not satisfy Representative of the Banque du Liban “.
Regarding the agreement with Iraq to start supplying fuel exports to Beirut in 2021 according to international prices, Brax commented: “We do not know if it will reach a result. But the quantities that are expected to be imported will all go to the EDL. , which means that it will probably not be a party. Furthermore, the agreement does not mean that Lebanon will get Iraqi crude oil because many steps have to be completed, the most prominent of which is the agreement of one of the countries to refine it or exchange it for fuel. , not to mention the mechanism to transport it by sea. Therefore, the dossier needs more. From the lesson and the clarifications. The only benefit is that we will pay the price of oil after one year “, adding:” Iraq will provide the country part of its surplus and will not cover all of our needs. Even the Iraqi opposition rejects this step, as the value of the national currency has decreased and many of the salaries of the Public sector employees have not been insured in return. The government provides aid to Lebanon. “
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