Lebanese government approved Wednesday the electricity plan proposed by Energy and Water Minister Jebran Bassil.

Prime Minister Najib Miqati’s government approved Wednesday the electricity plan proposed by Energy and Water Minister Jebran Bassil, “agreeing that it would be funded through four annual installments beginning in 2011 and ending in 2014,” Finance Minister Mohammed Safadi told Al-Manar Channel.

The plan entails the allocation of $1.2 billion to the energy and water ministry to generate 700 Megawatts of electricity.
“We approved the [electricity] plan… the funding, which is for $5 billion, was divided into four, annual stages,” Safadi added.

The government will be in charge of project expenditure, while the exact amounts and timing of the installments would be agreed at a later time, Lebanese media reported.

The cabinet endorsed the plan during a session held at the Baabda Palace and preceded by a closed-door meeting between President Michel Suleiman and PM Miqati.

On Monday Bassil noted that his plan would benefit all Lebanese, warning that “the government won’t survive or implement anything if it does not put the draft law into practice.”

In remarks published Wednesday by An Nahar daily, Miqati denied any animosity inside the cabinet, saying the government was working as a single team on a series of proposals in order to reach consensus over Bassil’s plan.

“Things are heading towards a solution and we’ve reached a point in the discussions that everybody agrees on,” Miqati added.

The addressed plan was opposed by March 14 parties and National Struggle Front leader MPs.