This week’s Insider Deals are so good you’ll want all of themLebanese caretaker Minister of Economy and Trade Amin Salam speaks during a news conference in Beirut, Lebanon, Thursday, May 30, 2024. Salam said Lebanon's political class as well as fuel companies and private electricity providers in Lebanon blocked an offer by gas-rich Qatar to build three renewable energy power plants to ease the crisis-hit nation's decades-old electricity crisis. began in October 2019.
Lebanon's energy minister, Walid Fayyad, responded in a news conference held shortly afterward that Qatar only offered to build one power plant with a capacity of 100 megawatts that would be a joint venture between the private and public sectors and not a gift as “some claim.” Lebanon’s political class that has been running the country since the end of 1975-90 civil war is largely blamed for the widespread corruption and mismanagement that led to the country’s worst economic crisis in its modern history. Five years after the crisis began, Lebanon’s governmentPeople currently get an average of four hours of electricity a day from the state company, which has cost state coffers more than $40 billion over the past three decades because of its chronic budget shortfalls.
“The Qatari leadership is offering to help Lebanon, so we have to respond to that offer and give results,” Salam said. Had the political leadership been serious in easing the electricity crisis, he said, they would have called for emergency government and parliamentary sessions to approve it.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ksatnews - 🏆 442. / 53 Read more »
Source: AP - 🏆 728. / 51 Read more »