The Finance and Budget Parliamentary Committee, chaired by MP Ibrahim Kanaan, held a session to discuss and approve the Sovereign Oil and Gas Fund Law. The meeting was attended by the Caretaker Minister of Energy Walid Fayad, the Caretaker Minister of Finance Youssef Khalil, the Chairman of the Board of Directors of the Lebanese Petroleum Administration Gaby Daaboul, as well as other MPs.
During the session, the committee reviewed the report of the subcommittee on the Sovereign Fund, emphasizing its commitment to independent management, transparent accounting, and external investments.
In a statement following the session, Kanaan said, “We discussed the report of the subcommittee on the Sovereign Fund and confirmed its commitment to independent management, transparent accounting, and external investments. We will hold two sessions on Thursday and Monday to give final approval and submit it to the General Assembly, ensuring it is ready before the start of exploration in mid-August.”
