Libya: revenue accounts opened for municipalities
The Ministry of Finance, aligned to Libya’s internationally recognized government in Tripol, has permitted the commercial Banks to open revenue accounts for the municipalities.
Author: LS
Libya Creates New Ministry
The Presidential Council has created a new ministry under the name “housing and construction” and appoints Ali Naghasa as minister in charge.
Libya allocates billions to cover municipal expenditures
Libya’s Presidential Council for the Government of National Accord announced the allocation of two billion dinars to cover municipal expenditures (salaries, running and operating expenses) for 2020.
According to Article 1 of Resolution No. 537, the Ministry of Local Government and the General Secretariat of the High Council for Local Administration will determine the terms of disbursement.
Article 2 stipulates that expenditures should be covered by one billion dinars from the proceeds of the fee imposed on foreign exchange sales and one billion dinars of the targeted domestic revenues.
The amount allocated from the proceeds of the fee imposed on foreign exchange sales is distributed according to the population census standard for each municipality, and each municipality is allocated a similar percentage to the value of the revenue collected.
Shakshak urges to withdraw the assignment of Abdul Majid as the CEO of the GECOL
Tabadul has obtained a copy of the letter that was sent by the Head of the Audit Bureau, Khalid Shakshak, to the Chairman and members of the General Electricity Company of Libya (GECOL) in which he requested to withdraw the assignment of Ibrahim Salem Abdul Majid Falah as the CEO of the GECOL.
In his letter, Shakshak confirmed that those who caused the electricity crisis should not be assigned any executive functions in the company.
The Audit Bureau reported that the reasons behind the electricity crisis were the intervention of the Prime Minister’s advisers, including Ibrahim Abdel Meguid as the Chairman of the Technical Committee on Electricity, the thing that malfunctioned the work of the board of directors of the Company and its executive management
Libyan Economists give facts about the PC’s latest decisions
The recent decisions taken by the Libyan Presidential Council (PC) to disburse the spouse and children allowance, to implement the PC’s resolution No. 567 on youth employment and training program, and to allocate an emergency budget for municipalities have elicited various reactions.
Muhammad Youssef: “Where are the facilities that would absorb the unemployed youth?”… “The family allowance is ineffective.”
In a statement to Tabadul, the economist Muhammad Youssef considered that the governance is not about issuing decisions, but rather a reconstraction of a solid implementation base.
“Despite the eligibility of the family allowance, the procedure is not effective… the effective measures that should be taken are; providing liquidity, controlling the market, suspending the speculation and creating real job opportunities for young people who are still unemployed or swept away to carry weapons in the hubs.”
Youssef also expressed surprise at the family allowance decision because few weeks ago a discount of 20 per cent has been applied to the salaries.
As far as the action plans on youth employmen is concerned, the economist wonderd about the working facilities that would absorb the unemployed youth.
He also pointed out that the effective solution is to restore rights through creating effective job opportunities at the municipal level, whether in trade, industry or services.
Ali El Solh: “Libya needs 1 billion dinars every year to spend on development projects so that unemployment will decrease by 11% per year.“
The expert and economic reporter Ali Mansour Atiah called for adopting a model of developmental expenditures in the fight against unemployment in Libya, while supporting his point of view by the data released by the Central Bank of Libya, the World Bank and the and United Nations, which confirmed that unemployment rates did not decrease, but rather stabilized between 17-19% , despite the increase in the value of salaries in Libya that reach about 30 billion Libyan dinars in both governments.
“Libya needs one billion dinars every year to spend on development projects so that unemployment decreases by 11% annually.” He said, adding that the financial policy is one of the most important economic policies through which we acn fight unemployment and poverty, and achieve the economic stability.
Fakher Boufarna:” The decision to employ the youth must be spread fairly in all the cities.“
In a statement to Tabadul, the economist Fakher Boufarna called to disseminate the Presidential Council’s resolution -that aims to employ a number of Libyan youth- among all the Libyan cities that suffer from unemployment, from east to west and south, hoping to establish justice and fair distribution of job opportunities.
Boufrana also clarified that the spouse and children allowance is an act and not a decision, established by Law No. 27 of 2013 as of January 2020.
” By activating the aforementioned law, the PC wanted to relieve pressure caused by the recent demonstrations as a result of the deteriorating living conditions, and to allevie tensions among the Libyan people.” He said.
Abu Bakker Abu Al Kacem : “PC’s Decisions Are Arbitrary”
In a statement to Tabadul, the Libyan economist Abu Bakker Abu Al Kacem considered the latest decisions issued by the Libyan Presidential Council (PC) including the allocation of an emergency budget for a number of municipalities as arbitrary decisions, adding that the PC did not coordinate with the Ministry of Finance and did not refer to the Central Bank of Libya.
“It is not only a confused decison, but also a passive one… It is a fire-fighting policy.” He said.
Libya’s Sharara oil field to shut
The National Oil Corporation said on Monday that Libya’s Sharara, the country’s biggest oil field, will shut and staff will be evacuated after one employee got COVID-19.
The NOC has still not lifted force majeure from the key oil terminals as some of these facilities are not still fully secured.
GECOL, ENKA discuss completing the Ubari power plant project
The General Electricity Company of Libya (GECOL) said on Facebook that it has held several meetings with representatives from foreign executing companies to discuss completing stalled electricity projects. The GECOL added that ot held talks with the Turkish company ENKA, the implementing contractors for the Ubari power plant project.
The meeting dealt with setting up a mechanism to complete the works of the Ubari gas power station project and to commence with the two gas stations west of Tripoli and Misurata, which will be implemented by the German Siemens and ENKA.
Libya: Ministry of Labor launches the youth employment and training program
Minister of Labor and Rehabilitation, Al-Mahdi Al-Amin has said his ministry is set to launch the youth employment and training program, pointing out that those registered as job seekers within the ministry’s systems for this year until the 30th of July amount to 128,679.
His statement came in line with the Presidential Council’s decision issued in this regard.
The data released by the ministry indicated that the western region ranked the highest when it comes to those looking for jobs, with 71,303 job seekers, after it comes the central region with 35,151, then the southern region with 9,895,000, while the eastern region registered 7,330,000 job seekers.
Turkish, Libyan central banks sign MoU
The governor of the Central Bank of Libya (CBL) Sadiq al–Kabir and his Turkish counterpart signed a memorandum of understanding to enhance financial cooperation.
The deal, signed on Monday, is laying the groundwork for continued cooperation in the field of central banking, according to a statement from the Turkish Central Bank.
The banks will carry out activities to foster bilateral economic relations and strengthen financial cooperation between the two countries.
Job seekers in Libya to be registered
The Libyan Ministry of Labor and Rehabilitation has instructed on Monday the directors of Labor Offices in all municipalities to take the necessary measures in order to register the job seekers and those who have not previously been registered on the system.
In its statement, the ministry pointed out that the labor offices must refer the data to the Information and Documentation Center at the Ministry of Labor by the end of September, 10.
