NNA - Caretaker Energy and Water Minister, Walid Fayad, on Monday affirmed that “today's initiative proposes a comprehensive and lawful solution to the electricity crisis,” adding that the solution also fosters national partnership.

Speaking at a press conference held at the ministry's headquarters, Fayad stressed citizens’ right to obtain power supply, adding that there must be an increase in power supply in line with the increasing tariffs.

The Energy Minister explained further that $62 million is the treasury advance to empty the fuel vessels. “We need another $75 million for other fuel vessels, in addition to maintenance costs, which are estimated at $54 million,” Fayad said. 

"What I propose is approval from the Prime Minister, followed by the ministers' signature of treasury advance decrees, as well as the ministers’ signature of the four draft advance decrees for two other fuel vessels,” Fayad added. 

The Energy Minister went on to say that his ministry will rely on the collection of electricity bills within next stage, so that the collected funds will be transferred to the Lebanese Central Bank. 

“Consequently, we will complete the next stage of financing electricity without any need for the Central Bank,” Fayad concluded. 

==============R.H.