In Long-Awaited Step, Lebanon Appoints Board at State-Owned Power Firm
The Lebanese government appointed a new board of directors at the state-owned electricity company on Tuesday, a ministerial source said, a long-delayed step that is one of a number of measures awaited by donor states demanding reforms.
Losses at Electricite du Liban, which have run at up to $2 billion a year, are a major strain on state finances.
Donor states want to see the sector fixed as part of reform efforts. Lebanon is in the throes of an acute financial crisis caused by decades of bad governance and corruption.
Fixing the loss-making power sector is seen as critical for the country which is mired in a financial crisis seen as the biggest threat to its stability since the 1975-90 civil war.
The country has failed to provide 24-hour power since the war, leaving households reliant on expensive private generators.