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Author: LS

Libya: head of the Libyan General Union of Chambers of Commerce to sue the Finance Minister

The head of the Libyan General Union of Chambers of Commerce, Mohamed Raied, said during  a televised interview for Libyan WTV channel and Tabadul platform that he will sue the Libyan Finance Minister, Faraj Bumtari, regarding his recent statements that “included defamation and harmed the House of Representatives (HoR) as well a the General Union of Chambers of Commerce.”

“I will take it to the law in front of all the Libyans… During the previous episode, I expected Bumtari to apologize to the trader about the confusion that took place and caused an increase in the freight rate and the price of goods… This has cost Libya millions of dollars as a result of the violations and the delays in ships and containers,” he said

Libya: January’s Oil Revenues Reach $1.4b

The National Oil Corporation (NOC) announced on Thursday that revenue from sales of crude oil, gas, condensate, petroleum and petrochemicals products reached $1,409,093,619.13 US dollars in January 2021.

According to the NOC’s statement, it was deposited in the NOC’s account in the Libyan Foreign Bank (LFB) in line with the current arrangements.

Chairman Mustafa Sanalla said: “The NOC, its companies and its workers in various fields of operations have struggled over the past months to achieve this income by increasing production rates at record times.”

The statement added that the NOC has not received government funding for January and February 2021 respectively, and it continues to finance the operation of vital facilities through special arrangements with banks. It claimed it “reserves the full right to hold official authorities accountable that have violated their obligations.”

“Despite the confusion and bureaucracy of some decision-making circles in the state who are trying to liquefy the necessary and urgent budgets that are still pending, the NOC is dealing with these challenges out of its sense of national responsibility towards the citizen,” said Sanalla.

The company urged other government agencies to be responsible and exercise stringent measures in the “service of the nation and prevent the collapse of vital facilities in the light of the COVID-19 pandemic.”

Global Witness and ARIJ to hold webinar on information about the LCs posted by the Libyan Central Bank

Following their recent report, Global Witness and ARIJ are teaming up to offer a two-hour webinar on a unique dataset compiled and published by Global Witness based on information about the controversial Letters of Credit system posted by the Libyan Central Bank on their Facebook page.


Global Witness examines the Letters of Credit money trail, which stretches from the Central Bank of Libya to Libyan-owned banks in the heart of London.

Speakers: 

Colin Tinto,the lead author, will present the report’s findings and how they used the data on Letters of Credit system to show possible fraud on the part at the heart of it.
Louis Goddard, the lead data journalist, will talk through the methodology used to retrieve the images posted on the Central Bank’s website and the process of consolidating them into a single shareable dataset that was analysed for the investigation.
The Webinar will be moderated by Munir Al Khatib, ARIJ Editor in Cheif. 


Sanalla presented with the Anti-Corruption Champion Award

The U.S. Embassy in Libya said on Tuesday that Ambassador Richard Norland called the Chairman of the Board of Directors of Libya’s National Oil Corporation, Mustafa Sanalla, to present him with the Anti-Corruption Champion Award, announced by U.S. Secretary of State Antony Blinken.

In a statement, the embassy said, “the Ambassador presented the award “virtually” during the call and promised to give it to the Chairman at their next opportunity to meet in person. Chairman Sanalla’s transparent management of the oil and gas sector has led to steady increases in production and has kept the NOC an apolitical, technocratic institution for the benefit of all Libyans.”

Faraj Bumtari: “the ECTN system can control smuggling operations”

In a televised interview for Libyan WTV channel and Tabadul Platform yesterday, Finance Minister Faraj Bumtari, representing the internationally recognized government in Tripoli, emphasized that several reasons had prompted him to implement the Electronic Cargo Tracking Note (ECTN) system, among which is the a great deficiency in the national economy.

According to Bumtari, this deficiency is reflected in the smuggling of goods through replacing some items with forbidden others, such as replacing infant formula with a couple of drinks, as well as replacing juice with tramadol tablets.

Faraj Bumtari pointed out that the Customs Authority and the Ministry of Finance seek to protect the national security vis-a-vis the serious imbalance in the financial and commercial systems, adding:”  considering the prohibited substances and smuggled goods, the State, along with the Customs Authority, do not have any original documents that prove or reveal the identity of the purchaser or the seller.”

He reiterated that the Electronic Cargo Tracking Note (ECTN) system makes it possible to identify the seller and the purchaser via providing complete data since 90% of smuggling operations are against unknown persons.

According to Bumtari, the ECTN system aslo enables to learn about prices and compare them not only with international prices, but also with commercial rates of the same product in order to detect any increase in the prices, reduce funds smuggling, and minimize tax evasion.

“The ECTN system would provide details about the source of funds and the type of product,” he said.

In his lengthy televised critique, the Finance Minister expressed surprise that maritime agents, customs brokers, and transport companies have participated in the majority of protests against the ECTN system.

Faraj Bumtari has also accused member of the House of Representatives (HoR), Mohammed Al-Raied, of defeating the cargo tracking system in 2015, adding:” this is the reason why tramadol and alcohol entered to Libya… Al-Raied should clarify this point.”

Misrata Free Zone issues quotation for transit cargoes

Misrata Free Zone issued resolution No. 7 of 2021concerning the adjustment of the value for money of some services, consistent with the regulations in force at different Libyan ports.

Following the Resolution No. 7, Misrata Free Zone issued another decision on adopting a quotation for the handling and storage of transit cargoes (containers, goods and cars).

Turkey builds biggest concrete factory in Libya

On Monday, Turkish Karanfil Group stated it had built the biggest concrete factory in Libya as the CEO of the group, Fatih Sari.

The Group said they had spent 10 million dollars on the factory, and that they would keep up their work to reach an aim of 5o million dollars in investment, adding that it aimed to employ 1000 people on the short and long terms to be able to produce 90 cubic meters of concrete an hour.

The CEO said the concrete factory would play a massively significant role in rebuilding Libya and to supply the public and private sectors.

At the first stage, the CEO said, 250 people were employed at the concrete factory and the number is expected to increase.

Benghazi spends more than a billion dinars in rebuilding its streets

The Stability Committee reported that Benghazi spent 1 billion Libyan dinars on 566 contracts to rebuild the city after the damages it endured during the country’s multiple civil conflicts.

The Committee detailed that the budget was spent on 566 contracts to rebuild the city, with more than two-thirds distributed over 5,000 residential units and 250 million used to remove damages and debris in the Sabri district and city centre with a completion rate of over 90% thus far.

It also added that the 566 contracts were distributed over 14 sectors such as electricity, health, sewage, housing, and road work, repairs of street lighting and clearing out debris and damaged property.

The Committee estimates that despite delays and operational problems, 142 projects are completed annually for a total of 524 projects completed in the last three years, noting that 95 projects are underway in 2021.