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Lebanese government agrees to lift fuel subsidies gradually
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BEIRUT, 26 June, 2021 (TON): A proposal to finance fuel imports at a rate of 3,900 Lebanese pounds to the US dollar has been approved by Lebanon’s caretaker Prime Minister Hassan Diab.
Bassam Tlais, head of the Land Transport Union, said, “We are at the crater of the fuel volcano. What is happening is a gradual lifting of subsidies (that) will negatively affect drivers and the transport sector.”
Diab’s media office said, “We are at the gates of the summer season, which will allow an increase in the value of hard currencies that will come to Lebanon with the arrival of expatriates and tourists, with the consequent positive results.”
It is likely that the decision will increase the price of gasoline sharply, but is expected to temporarily ease the shortage crisis in the country. Moreover, the price of a gas canister is expected to jump from 44,000 pounds to more than 60,000 pounds.
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