Member of the Gas Stations Owners’ Syndicate, George Brax, on Monday said that the Central Bank affirmed in a statement issued this afternoon, its commitment to open credits to import oil derivatives at an exchange rate of 3,900 LBP for each dollar.

Brax told Al Markazia that the green light was given to Oil importers to submit their papers in order to obtain a prior approval from the Central Bank to import fuel, given that  credits will be opened at the exchange rate of 3,900 LBP for each dollar.

Based on this approval oil importers will ask the concerned authorities (the Ministry of Energy, the General Directorate of Customs, and Port of Beirut…) to authorize unloading the gasoline and diesel ships.

Brax confirmed that “the ships have been in the sea for several days, but their owners have obtained today the green light to start the paperwork required for unloading fuel.

He has pointed out that many importers have already finalized the administrative procedures for unloading the ships.

Brax denied that the Caretaker Minister of Energy and Power, Raymond Ghajar, had met with representatives of the oil importers and distributers today, but he rather met with his team within the ministry to develop a mechanism for the new schedule for setting prices according to the recent agreement with the Central Bank. Prices should be set at an exchange rate of 3,900 LBP.

Brax hoped that the schedule will be issued tomorrow instead of Wednesday, so that companies can distribute fuel.