Lebanon: Blackouts Likely After Government Blocks Payment for Electricity Producer s Fuel MIN READMay 5, 2021 | 18:09 GMT
Lebanonâs Constitutional Council blocked a $200 million advance payment intended for state-owned Electricite du Liban (EDL)âs next fuel purchase, citing the need for more clarity to ensure the central bankâs mandatory reserves wouldnât be used to fund the advance, L Orient Today reported May 5. .
ECC approves Rs90 billion payment to 35 IPPs
Business
May 6, 2021
ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) on Wednesday approved Rs90 billion as the first installment of outstanding payments to 35 independent power producers (IPPs) and withheld disbursal for 12 IPPs under the NAB investigation.
The ECC also approved targeted subsidies mechanism for power sector in principle and directed to finalize modalities to link it with Ehsaas program.
When asked about the possibility of $1.5 billion program approval from the World Bank till end June 2021, Minister for Finance Shaukat Tarin said the power tariff could not be hiked but the targeted subsidies were approved because it was prior action of WB’s loan program. Tarin said the power tariff could not be increased and the WB’s high-ups are empathetic about it.