We’re Giving Advance Funds To a Broke EDL

Lebanese parliament permitted yesterday one more advance fee for the Electricite du Liban (EDL) as a way to keep away from a complete blackout within the nation as gasoline is operating out. The 200 million greenback will probably be sufficient for EDL to remain operational for an additional two months, after which it should require extra funds to purchase gasoline as the corporate is broke and doesn’t make any earnings.

The actual downside right here is that lawmakers are calling it an “advance fee”, but EDL is unable to pay these 200 million {dollars} anytime quickly, not to mention the 40 billion {dollars} in debt gathered through the years. To make issues even worse, these thousands and thousands of {dollars} have been principally taken from no matter is left from the depositors’ {dollars}.

So to sum issues up, lawmakers are taking our cash to pay a bankrupt firm that’s barely feeding us with 6 hours of electrical energy per day. And what’s their argument? We are going to drown in darkness if EDL shuts down.

They’d 20 years or so to unravel the electrical energy disaster, that they had two years to determine a technique to velocity up the method and get all the things on observe, they have been provided assist from overseas entities, but someway we’re right here at the moment with no electrical energy, no authorities and no plans.

Funnily sufficient, lawmakers additionally handed a regulation proposal associated to recovering stolen public funds, that’s linked to a different regulation handed final yr that was by no means carried out. They principally wish to get better the stolen public funds that they stole from us, by forming committees that they identify, management and handle.