The Lebanese central bank started implementing its decision by removing the subsidy on flour on Tuesday.
The move has been met with protests among citizens who are suffering from a sharp hike in prices of goods given the shortage in U.S. dollar currency used to import products.
On Tuesday, UN officials expressed fear that the subsidy cuts will cause havoc in the country if no alternative plan such as creating a safety net is made before the removal of the subsidy.
This has prompted Lebanese authorities to convene on Tuesday to try and come up with a new scheme to rationalize subsidies in a way that would have the least impact on citizens.