File - The Zouk power plant, Thursday, May 30, 2013. (The Daily Star/Mohammad Azakir)
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The president and prime minister authorized the Finance Ministry to release the funds for the fuel oil shipment to avoid an electricity blackout, a source at the ministry said Thursday.Most of the country's aging power plants still run on fuel oil or gasoil, and experts say that 85 percent of EDL's losses are due to the high prices of fuel oil.Former Finance Minister Mohammad Safadi estimated the electricity deficit at $2 billion. The source said several fuel oil tankers were still waiting to unload their shipments at Zouk Mikail power plant.
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