The Lebanese people are constantly confronted with economic and social challenge, where catastrophes worsen by the day. Will there be a gas crisis today, and will this industry go on strike if the process of purchasing and selling gas is not dollarized?
The instability of the Lebanese pound’s exchange rate against the US dollar, and the Ministry of Energy’s failure to address this anomaly, resulted in massive losses for gas distributors, who purchase their goods from filling companies in US dollars and are then forced to sell according to the Ministry of Energy’s pricing in Lebanese pounds.
Gas distributors must continue to experience daily losses from earnings and capital while the Ministry of Energy makes no attempt to remedy the issue, especially given the need to dollarize the purchasing and selling process, especially given the instability of the Lebanese currency.
If there is no gas crisis, but this legitimate demand is not satisfied, the Syndicate will declare a general strike on all Lebanese lands until the price is adjusted, according to the black-market dollar rate.