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Syndicate Of Generator Owners Warns Of Price Hikes If Subsidies Are Lifted
It seems like it’s going to be a dark, dark winter.
Earlier today in an interview with Voice of Lebanon radio station, the head of the Syndicate of Generator Owners in Lebanon warned that lifting subsidies on fuel will lead to a significant price hike on power generator fees.
He explained that a 5 ampere generator would be priced at 500,000 LL, increasing alternative power costs in a country with extremely unstable electricity.
The panic over lifting subsidies has begun to spread in Lebanon as the Central Bank’s foreign reserves continue to dwindle, meaning it can only sustain its subsidy program for three more months at most.
This has forced a dilemma during which the government has to decide what to cover with the remaining reserves to protect the most vulnerable.
Earlier today in an interview with Voice of Lebanon radio station, the head of the Syndicate of Generator Owners in Lebanon warned that lifting subsidies on fuel will lead to a significant price hike on power generator fees.
The head of the Syndicate of Generator Owners, Abdo Saadeh, told VDL radio 100.3 that cutting subsidies on diesel would hike the price of a 5 ampere generator service to LL500,000
— L’Orient Today (@lorienttoday) December 9, 2020
He explained that a 5 ampere generator would be priced at 500,000 LL, increasing alternative power costs in a country with extremely unstable electricity.
The panic over lifting subsidies has begun to spread in Lebanon as the Central Bank’s foreign reserves continue to dwindle, meaning it can only sustain its subsidy program for three more months at most.
This has forced a dilemma during which the government has to decide what to cover with the remaining reserves to protect the most vulnerable.