| 29 February 2024, Thursday |

Lifting subsidies on fuel will end smuggling to Syria

The researcher in International Information Mohammad Shams el-Din said that the price of a subsidized gasoline tank in Syria is 70,000 Syrian pounds and the unsubsidized is 235,000 Syrian pounds. While in Lebanon its price hovers around 45,000 LBP, and if subsidies were lifted the price of each tank will soar to 200,000 LBP, therefore smuggling will become unfeasible.”

Shams El-Din said during a radio interview that “the profit margin will drop to 30,000 LBP, thus merchants will not be earning profits.”

He added that the rise in gasoline prices to 200,000 LBP per tank will not be accepted by the public, that’s why at least five subsidized cards should be provided for each public transport driver.

Fadi Abou Chakra, Representative of Fuel Distributors in Lebanon said that there is ongoing smuggling of fuel to Syria, however measures are being taken in this matter.

Abou Chakra added, during a TV interview: “It is really not allowed to deprive Lebanese from subsidized goods, and smuggle them instead to Syria.” He suggested subsidizing 70 percent instead of 90 percent of its value, which will relieve pressure of the Central Bank, and at the same time will not exhaust citizens.

  • Sawt Beirut International