Lebanon approves plan to reform electricity sector amid economic crisis

Lebanon approves plan to reform electricity sector amid economic crisis
March 17, 2022, 10:04 am

Electricity power grids/Power lines-Pixabay

The Xinhua reported, according to a statement by the Council of Ministers, or Lebanon's cabinet, Lebanon's cabinet approved an electricity reform plan on Wednesday, a critical step in addressing the country's financial crisis.

It said that the plan includes the construction of new power plants and the establishment of an electricity regulatory authority in 2022, as requested by western donors and the World Bank.

The International Monetary Fund, with which Lebanon is negotiating a possible bailout program, said that reforming the electricity sector was a key pillar of the country's recovery from a deep financial crisis.

The state-owned National News Agency reported that after a cabinet session, Energy Minister Walid Fayad pledged to do his best to establish the regulatory authority.

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Since 1990, the electrical sector has accounted for around 40 percent of Lebanon's public debt of more than 100 billion dollars.

Source: xinhua

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