Government committee to boost investment

$166 million for Energy and Water
$118 million for Public Works

A ministerial committee tasked with enhancing private investments was established yesterday (July 11) through Cabinet decree. The 'Investment Promotion Committee' is chaired by Minister of Tourism, Fadi Abboud, and includes as members the ministers of finance, justice, economy and trade, industry, information, and Minister of State, Marwan Kheireddine.

The Cabinet at its last session decided to transfer a credit worth $118 million to the Ministry of Public Works and Transportation for the purchase of equipment, renovation and construction of buildings, and restoration of roads. It also decided to transfer a credit worth $166 million to the Ministry of Energy and Water for expropriations, and the construction of water and energy facilities.

The Cabinet called on the Ministry of Interior and Municipalities to be more firm in prohibiting all illegitimately installed gambling machines, mainly the poker machine which is exclusive to the Casino Du Liban.

During yesterday’s session, the Cabinet approved the 2012 state budget draft law. The approved bill did not include the funding of the Special Tribunal for Lebanon (STL), which Prime Minister Najib Mikati said was covered from the budget for the Presidency of the Council of Ministers earlier in the day. The original draft budget had allocated $41 million to cover Lebanon’s share of the STL.