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[size=36]The Governor of the Banque du Liban intends to stop financing the import of gasoline[/size]
Economie| 08:38 - 10/21/2021
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Follow-up - Mawazine News
, Governor of the Banque du Liban, Riad Salameh, informed the members of the Central Council of his intention to stop financing the import of gasoline with the bank’s dollars, which will lead to an additional rise in gasoline prices and constitute a burden on the budgets of families and institutions.
Sources in the Central Council of the Banque du Liban revealed to Al-Akhbar newspaper that Salameh informed them on the sidelines of the council’s meeting that he intends to “stop selling dollars to fuel importers, provided that a decision will be issued by the Central Council within a maximum of two weeks.”
The Ministry of Energy was also in harmony with Salameh’s intentions, so it issued a price synthesis table that includes a new pricing for a can of gasoline on the basis of a dollar price of 20350 pounds, i.e. an exchange rate almost equal to what is circulating in the free market, and according to the sources, “This harmony was intended because it paves the way for the decision of the Bank of Lebanon.” It forces consumers to get used to the higher price.
The newspaper said that "by this decision, the Banque du Liban will have freed itself from the subsidy file. It will also have completed the destruction of the remaining budgets of families and institutions," noting that "the resort of importers to the free market to obtain dollars to finance diesel fuel has ignited the demand for dollars and an increase in Its price is at an average of 1,700 Lebanese pounds per week because traders withdraw about 230 million dollars per week from the market. If the matter is repeated with gasoline, the pressure will increase more on the exchange rate, thus increasing inflationary pressures on families and institutions.” Ended 29/A43
, Governor of the Banque du Liban, Riad Salameh, informed the members of the Central Council of his intention to stop financing the import of gasoline with the bank’s dollars, which will lead to an additional rise in gasoline prices and constitute a burden on the budgets of families and institutions.
Sources in the Central Council of the Banque du Liban revealed to Al-Akhbar newspaper that Salameh informed them on the sidelines of the council’s meeting that he intends to “stop selling dollars to fuel importers, provided that a decision will be issued by the Central Council within a maximum of two weeks.”
The Ministry of Energy was also in harmony with Salameh’s intentions, so it issued a price synthesis table that includes a new pricing for a can of gasoline on the basis of a dollar price of 20350 pounds, i.e. an exchange rate almost equal to what is circulating in the free market, and according to the sources, “This harmony was intended because it paves the way for the decision of the Bank of Lebanon.” It forces consumers to get used to the higher price.
The newspaper said that "by this decision, the Banque du Liban will have freed itself from the subsidy file. It will also have completed the destruction of the remaining budgets of families and institutions," noting that "the resort of importers to the free market to obtain dollars to finance diesel fuel has ignited the demand for dollars and an increase in Its price is at an average of 1,700 Lebanese pounds per week because traders withdraw about 230 million dollars per week from the market. If the matter is repeated with gasoline, the pressure will increase more on the exchange rate, thus increasing inflationary pressures on families and institutions.” Ended 29/A43
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