POST NO. 1

FIVE LEBANESE CITIZENS CAN HELP SAVE LEBANON

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 The picture above should be self-explanatory. However, just to dispel any misunderstanding, allow me the following comments:

1. Reforming our health protection policies are extremely valuable initiatives that no one can ignore. However the efforts of the Ministry of Health alone will not be enough to produce the required results. At least some six other Ministries should be directly involved if one wants to achieve our ultimate goals in this domain. Though there is no way to quantify or price such health improvements one cannot but acknowledge the vital necessity to introduce the needed reforms in that sector.

2. Recuperating the full amount of the 6% real estate registration fees would increase the State’s revenue by some $1.7 billion US dollars a year. We are prepared to provide full details of the estimates that have led us to this conclusion. We understand that Finance Minister, HE Hassan El Khalil has already undertaken some serious investigations into the Real Estate registration procedures, as a result of which some 55 public functionaries were officially questioned over their possible involvement in fraud and manipulations. We personally believe that the best way to stop these serious misdeeds would be, in addition to making registration compulsory, to publish monthly in the Official Gazette or some such public registry, the full details of all individual real estate registrations conducted during the month. Such transparency would best serve to prevent subsequent large scale fraud in the future. 

3. We believe that the readers would be quick to realize that the largest contributor toward the enhancement of the performance results of the Lebanese Governments over the next twenty years, stands to be a non-governmental entity represented by the Lebanese Bankers ‘Association, the largest holders of our public indenture bonds, who, along with the foreign bondholders, would be requested to reduce the average rate of interest on these bonds by two per cent per year. This reduction, if consented, would serve to reduce the country’s Debt by some $114 billion US dollars over the next twenty years. 

4. The construction of the two planned for Energy plants should serve to reduce the loss at the Ministry of Energy by $1.5 billion dollars a year (based on previous average oil price of $100 a barrel). We have put an interrogation mark against the principal contributor toward that saving because there is no clear understanding as to who will be responsible for planning and supervising the construction of these two plants, once the project is adopted. We assume that the Council for Development and Reconstruction (CDR) could be the institution in charge for implementing this essential initiative.

5. The final contributor toward improved management of public funds stands to be the Minister of Energy and Water Resources, HE Arthur Nazarian who should be in a position to confirm that as much as five hundred million dollars a year can be saved at Electricite du Liban (EDL) by exercising stricter control over this institution. It is worthwhile mentioning that the fact has already been identified and pointed out on the web in the past, by EDL’s foreign auditors, and in public declaration by EDL’s higher management.

6. More information on the subject is available to would be enquirers on our blog site at: http://www.a-planned-development.blogspot.com

7. MAY I BE ALLOWED TO CONCLUDE BY FERVENTLY WISHING THAT A PROSPEROUS AND FREE FROM DEBT LEBANON BECOMES A REALITY IN 2032.