The Central Bank of Lebanon calls for rationalizing subsidies

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The Central Bank of Lebanon calls for rationalizing subsidies

Reuters

Today, Wednesday, the Central Bank of Lebanon called on the caretaker government to approve a plan to rationalize subsidies in order to help the neediest people and put an end to the extensive smuggling, at the expense of the Lebanese.

The bank stressed in a statement that it “will not use the mandatory placements, and that the payments it is currently making are among the surplus of the mandatory placements,” noting that at the level of the medical sector, the Ministry of Public Health informed the Bank of Lebanon of the priority files for medical supplies, and payment was made. What is required to the banks, and the transactions are in place to pay the rest.”

He explained that in terms of medicines, “the Banque du Liban is still awaiting the priorities that the Ministry of Health will set to inform the banks, knowing that the Banque du Liban’s use requires selling dollars at the official price to banks, and it has no direct relationship with importers.”

He announced that “in terms of gasoline, what is required has been paid to the banks to meet the credits, and the quantities currently available are sufficient. The issue is a follow-up between the Ministry of Energy and Water, the Banque du Liban and the Public Works Committee of the House of Representatives, to develop a rationalization plan that ensures continuity.”

The bank stressed that “the existing surplus is a comfortable surplus for the country, knowing that the “MEDCO” company has done what is required and settled its situation and nourished the market without interruption. We hope that all companies will carry out their duties as required, knowing that the required quantities are available,” noting that He had issued a prior approval after receiving a request for approval from the Ministry of Economy to import wheat to Lebanon.

Source: National News Agency





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