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Faced with increasing budgetary restraints and high cost of oil, Electricite du Liban announced Friday that it is compelled to close a number of power plants and increase electricity rationing to 11 hours a day in most Lebanese regions with the exception of Beirut.EDL was also compelled to stop buying electricity from Syria to reduce expenses.Finance Minister Ali Hasan Khalil has repeatedly said the allocation to EDL has been set at LL3.2 trillion instead of LL2.8 trillion. However, EDL officials say that they have not received any official letter from the Cabinet that changes the ceiling from LL2.8 trillion to LL3.2 trillion.
Salameh rejects devaluation of pound
BDL: No rate hike
in foreseeable future
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