Lebanon’s state electricity company on Saturday renewed its warning that the country will imminently face total blackout if the Central Bank fails to buy fuel oil to run the power plants that are running out of fuel oil.

In a statement to the press, Electricité du Liban reminded that it has repeatedly cautioned for several months ago of the danger of getting into the prohibited with regard to feeding with electricity output, and that it has appealed to all concerned parties with the sensitivity and delicacy of the situation, especially in terms of the need to approve the transfer of the surplus of the national currency accumulated in its accounts as a result of bill collection operations subscriptions for feeding the electricity into a hard currency according to the official exchange rate, in an attempt to cover part of its fuel needs.

EDL has previously said that BDL needs to convert LL150 billion in local currency to fresh U.S. dollars at the official rate of LL1,507.

But BDL argues that it is not authorized to touch its remaining for currency reserves and insisted the Parliament should give the Central Bank the green light to use part of the reserves to purchase fuel oil for EDL.

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