Fadi Abboud, the president of the Association of the Lebanese industrialists, announced on May 18th the approval of the drop of the price of the electricity to the manufacturers, from 80 LL to 50 LL by kilowatt between 11.00 PM and 7.00 AM. This decision was taken during a meeting chaired by Prime Minister Fouad Siniora, and gathering Minister of the Energy and Water on an interim basis Mohammad Safadi, Secretary of Commerce on an interim basis Michel Pharaon, Minister of Finances Jihad Azour, CEO of EDL Kamal Hayek and Fadi Abboud. Mr Safadi declared that this meeting "was intended to discuss demands of the industrialists" and that it was "the proof of the confidence of the government in this sector. The industrialists can now benefit from very reduced price at night". Mr Safadi also indicated that from next month, the industrialists will also benefit from a 50 % reduction on the expenses of meters installation, during a period of three months.