Lebanon plans to hike electricity prices

BEIRUT, Lebanon

Lebanon plans to raise electricity prices as part of efforts to improve power supply in the cash-strapped country.

“Electricity tariffs will be hiked after improving supply to reach 8-10 hours a day,” acting Information Minister Abbas al-Halabi said in statements.

He said the Lebanese Cabinet is committed “to gradually adjusting electricity tariffs while improving the supply in order to cover the costs.”

Lebanon suffers from a severe shortage of electricity supply due to insufficient fuel needed for power generation, in addition to a sharp rise in the prices of derivatives due to the collapse of the lira, and the lack of foreign exchange needed for imports.

*Writing by Bassel Barakat in Ankara