Berri to Focus on Drilling for Oil during Monday’s Parliament Session

The government’s measures to tackle Lebanon’s offshore oil wealth are expected to be the focus of Monday’s parliament session, reported the daily An Nahar Sunday.

It said that Speaker Nabih Berri is eager to get this issue underway, adding that Lebanon’s contacts over the demarcation of the Lebanese-Cypriot maritime border will also be addressed.

“The commencement of the demarcation will change the face of Lebanon once it is underway,” stated the daily.

On Monday, Berri had urged officials not to issue a final judgment on the 2012 draft state budget because he said it could be amended during discussions at the cabinet or parliament.

He told As Safir daily that the draft has some positive and negative aspects.

Among the negative articles is a proposed two percent hike in Value Added Tax. VAT currently stands at 10 percent.

The increase to 12 percent is “unjust,” he said, adding that the government should find other means to compensate for the expected rise in wages such as speeding up efforts to drill for oil and gas in Lebanon’s Exclusive Economic Zone that would improve the treasury’s income.

In the past, U.N. Special Coordinator for Lebanon Michael Williams had stressed to Berri the importance of Lebanon exploiting its natural resources.

He said that the U.N. supports Lebanon’s efforts to drill for oil and take advantage of its wealth within its Exclusive Economic Zone.