Fayyad said: “Today I invited you to witness together the launch of the electronic fuel pricing application issued by the Ministry of Energy and Water, which includes the prices of 95-octane gasoline, 98-octane gasoline, diesel fuel and domestic gas,” pointing out that this step is a new and advanced stage of the fuel sector’s march that we started. In the ministry since the government assumed its duties in September 2021.
He emphasized that the indirect support that was affecting the fuel sector in Lebanon by fixing the price of the dollar at 1,500 pounds made the treasury live huge annual sums without necessarily targeting the poor and people with limited income only, and after the exchange rate of the pound collapsed, the fuel subsidy to keep it below the high ceilings became very costly and empty. country of hard currency.
And he declared, “In light of this reality, we in the ministry started a process of gradually raising subsidies on fuel dollars until we reached the complete removal of this subsidy, and prices became directly linked to the global oil price on the one hand, and the price of the market dollar on the other hand.”
He explained that these measures saved more than 300 million dollars a month from depleting the reserves of the Banque du Liban and eliminated queues in front of gas stations, which have always been a major problem, noting that the large fluctuations witnessed by the currency market and the rise or fall of the dollar exchange rate by thousands of pounds per day had negative effects. Great negativity on companies, distributors and stations at times, and on the citizen many times, which prompted us to issue pricing several times a week, and then several times a day now.
He also stressed that this matter led us, after consulting with those concerned in the sector and after taking the opinion of the supervisory authorities in the state, such as the State Shura Council and others, to take a decision to prepare an easy and transparent electronic application that could be accessible to everyone, which simplifies pricing procedures for management through rapid response. With the fluctuations of the market on the one hand, and helps companies, distributors and stations to maintain their legal profit margin on the other hand, and most importantly, it enables the citizen to see the prices directly and facilitates his affairs. From the access to the creation of this application.
Fayyad thanked the free support provided by the programming company (Profit isle), which operates between the United States of America and Lebanon, and it took upon itself to help us prepare this application.
He said: “We are launching together an ‘electronic application’ that did not cost the state a single dollar, in the hope that it will help citizens and stakeholders and enable us to manage the market fairly for all and be a step towards the e-government that we all aspire to reach in order to facilitate the work and interests of people and to preserve the principle of transparency that has governed our work since we took over.” affairs and concerns of this ministry.
He added, “We reaffirm our commitment to the Ministry of Energy and Water to the principle of absolute transparency, whether in terms of openness and total cooperation with the judiciary, or in terms of informing and involving public opinion in everything related to how pricing is issued for private generators through the ministry’s website, or, as today, fuel pricing through the electronic application.” : Lebanese Fuel Pricing.
