The Lebanese Electricity Utility (EDL) on Wednesday warned that electricity production and distribution may be halted due to the economic crisis in the country.
Following a meeting of the EDL's board of directors, Lebanese Energy Minister Rimun Gacar was briefed that it is difficult to continue producing electricity under the current conditions.
The financial situation in the country is imposing a heavy burden on the EDL, the authority said in the briefing and demanded the necessary steps be taken to continue electricity production.
The national electricity authority also requested Gacar to inform the presidency and the prime ministry about the severity of the situation.
- Economic crisis and high cost of living
On Tuesday, the Lebanese government raised the price of bread by 33% for the first time in more than a decade.
After the civil war between 1975 and 1990, the country could not produce 24-hour electricity and has faced long-term power cuts due to the shortage of dollar-traded fuel.
The local currency, the Lebanese lira, is losing value day by day, even though the Lebanese central bank keeps the rates stable. According to the official rates, although US$1 is 1,515 Lebanese liras, the dollar was traded at over 8,000 Lebanese liras on the black market on Tuesday.
The minimum wage is about $450 (675,000 Lebanese lira), according to the central bank official rate, which has not changed since 1992 while it is equivalent to $84 on the black market, having weakened for several months.
By Sibel Morrow