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Aguila Saleh discusses with the designated Libyan Prime Minister a number of service files, the most important of which is the budget law

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The Speaker of the House of Representatives, Aguila Saleh, discussed with the designated Libyan Prime Minister, Osama Hammad, during their meeting today, Sunday, in Al-Qubba, a number of service files, on top of which is the budget law, in addition to stressing the need to provide the citizen’s needs of food, medicine and electricity.

Aguila Saleh affirmed his full support for the government headed by Hammad and his full confidence in its ability to achieve the aspirations of the Libyans and to hold fair and transparent presidential and legislative elections as soon as possible, while the head of government stressed the implementation of the mission entrusted to it and the rise to the level of aspirations of the Libyan people and its commitment to implementing its plans, programs and its initiatives aimed at advancing the Libyan economy and securing a better future.

Al-Meshri: “Fuel smuggling is carried out by persons and advisors affiliated with Dbeibeh, and the subsidy must be replaced with cash support to combat smuggling”

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The head of the High Council of State, Khaled Al-Meshri, stressed in a statement on Friday that combating fuel smuggling can only be done by adopting a series of measures and steps, including replacing commodity subsidies with cash subsidies, accusing the National Unity Government of not taking any reform steps in this regard.

In his statement, Al-Mashri explicitly accused the head of the National Unity Government, Abdul Hamid Dbeibeh, of being behind the fuel smuggling operations, saying that the smuggling of oil and fuel is carried out on a large scale, in a semi-official way, through personalities and advisors affiliated with the prime minister, Dbeibeh, according to the statement.

Al-Meshri expressed his rejection of the aerial bombardment of areas in the city of Zawiya, accusing Dbeibeh of exploiting the drone weapon to settle political scores against different parties with him politically under the pretext of combating crime.

Total sales of crude oil and petroleum products during the month of April amounted to about $1.7 billion

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The Oil Research Center of the National Oil Corporation revealed that the total sales of crude oil, gas, condensate, petrochemicals and other oil products during the month of April amounted to more than one billion and 686 million dollars, “equivalent to about 8 billion dinars.”

The center stated, according to data issued by the National Oil Corporation, that the total sales of crude oil during the past month amounted to one billion and 540 million dollars, while sales of gas and condensate amounted to 84.3 million dollars, while the remaining oil products and petrochemicals total sales amounted to 62 million dollars.

Al-Huwaij discusses the mechanism for implementing the National Unity Government’s plan to replace fuel subsidies with cash support

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Minister of Economy and Trade, Mohammed Al-Huwaij, held a meeting on Monday, attended by the ministry’s undersecretaries for commercial affairs and economic affairs, to discuss the challenges facing the economic and investment sectors. The meeting was also attended by the Chairman of the General Authority for Investment Encouragement and Privatization Affairs, the Chairman of the Board of Directors of Libya Trade Network, the minister’s advisor, and the directors of departments and offices at the ministry.

The meeting, held at the ministry’s headquarters, discussed the procedures and steps taken, as well as the mechanism for implementing the National Unity Government’s plan to study and address the issue of fuel subsidies and replace them with cash support.

Al-Huwaij directed the formation of a technical committee comprising all relevant institutions to prepare a mechanism for replacing fuel subsidies with cash support, in accordance with the vision of the National Unity Government to improve service levels. He also emphasized the completion of the preparation of the 2030 Economic Diversification Strategy, in coordination with relevant government and academic institutions, and its submission to the Council of Ministers.

During the meeting, the progress made in the implementation stages of the ministry’s digital transformation plan and its affiliated entities was also reviewed. This includes activating the system for commercial trademarks and linking the commercial registry system with the civil registry and national identification system, in coordination with the General Authority for Information.

Dbeibeh inaugurates Libya International Building and Construction Exhibition “Libya Build 2023”

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Abdul Hamid Dbeibeh, the Prime Minister of the National Unity Government, inaugurated today, Monday, the Libya International Building and Construction Exhibition “Libya Build 2023” in its thirteenth edition, held at the Tripoli International Fairgrounds. The event was attended by several ministers, officials, and foreign ambassadors.

The “Libya Build” exhibition this year, which will continue until next Thursday, witnesses a large participation with the presence of approximately 260 companies from 10 Arab and foreign countries, along with over fourteen thousand participants, including decision-makers, large and small traders, and industry specialists.

The opening ceremony of the exhibition, which is one of the largest construction, design, and building exhibitions in North Africa, was attended by the Minister of Economy and Trade of the National Unity Government, Mohammed Al-Huwaij, the Deputy Minister of Industry and Minerals, Mustafa Al-Samou, and a number of foreign ambassadors.

The opening of UBCI Branch in Misrata

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United Bank for Commerce and Investment opened its new branch in Misrata today, Monday, in the presence of the Chairman, members of the Board of Directors, department managers of the bank, and a number of officials in Misrata.

In his speech on the occasion of the opening of the new branch, Abdullah Al-Saoudi, Chairman of the Board of Directors of UBCI, expressed his gratitude to the Central Bank of Libya, regulatory authorities, and shareholders who played a role in the opening of this branch. He hoped that this branch would serve Misrata City in the best possible way.

On the other hand, Wael Shenshen, Deputy General Manager of the bank, said in a statement to a television channel that this branch, which was opened today in Misrata, is the bank’s 14th branch across various parts of Libya. He pointed out that the bank provides its services to the corporate sector and branch sector, offering all electronic payment services.

CBL: The money supply exceeded 114 billion dinars during the first quarter of this year

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The Research and Statistics Department of the Central Bank of Libya stated during the quarterly economic bulletin for the first quarter of the current year 2023 that the total money supply as of March 31 of this year amounted to more than 114 billion dinars.

The Central Bank stated that the currency with the public rose during the first quarter of this year to 33.9 billion dinars, and the total demand deposits increased to more than 77.2 billion dinars, in addition to 2.9 billion dinars in quasi-money, including time deposits and savings deposits.

The total money supply witnessed a remarkable increase during the past two years, as it recorded 100.6 billion dinars by the end of the year 2021, before it increased by more than 10 billion dinars, recording 110.3 billion by the end of the year 2022, to continue its rise at the beginning of this year to reach 114.1 billion by the end of the first quarter of the year 2023.

The Public Prosecution orders the imprisonment of the director of Wahda Bank, Tobruk branch, on charges of appropriating an amount of 630,000 dinars

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The Office of the Attorney General announced that the Anti-Corruption Prosecution within the jurisdiction of the Tobruk Appeal Court circuit ordered the detention of the director of Wahda Bank, the Tobruk branch, on charges of appropriating an amount of 630,000 dinars, in addition to instructing the law enforcement authorities to arrest and bring the official in charge of the bank’s branch management.

Yesterday, Saturday, the Office of the Attorney General stated that the Anti-Corruption Prosecution within the jurisdiction of the Tobruk Appeal Court had received a report that contained evidence that an employee of the bank branch had attempted to commit the act of appropriating the sums of money resulting from the implementation of the customs tariff, and after opening an investigation in the case, the will of the branch official was proven towards the seizure of 630 thousand dinars.

After proving the act, the investigator decided to take a number of precautionary measures, including ordering the detention of the bank branch manager pending the case. And directing the control authorities to seize and bring the person in charge of managing the bank’s area branches. Then the investigator decided to refer the case to the judiciary in the presence of the present defendant.

Ben Gdara reveals an important agreement between the National Oil Company and Eni to exploit the burnt gas

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The head of the National Oil Corporation, Farhat Ben Gdara, told Bloomberg regarding the exploitation of the flared gas, where he said: “Last Tuesday, the NOC signed an agreement worth 1.05 billion dollars with the Italian company Eni to exploit the burning natural gas associated with oil production, and the implementation of this project is supposed to start in 2025.”

He stressed that Libya will be able to produce 1.3 million barrels per day by the end of the current year 2023, and that avoiding closing the fields and improving the salaries of oil workers contributed to increasing production by about a quarter since January 2022 to 1.2 million barrels per day now.

He revealed that investments worth $17 billion in 45 projects will allow the NOC to increase production to two million barrels per day within five years.

The National Unity Government will also offer the rights to develop additional fields next year, and the National Oil Corporation has resumed gas supplies from the Mellitah complex after its maintenance.

According to Bin Gdara, the gas flows will remain stable during the next five years, after the maintenance of the complex.

Dbeibeh in a meeting with officials of the Egyptian Intelligence Service

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Today, Wednesday, Prime Minister Abdul Hamid Dbeibeh held a meeting with a high-ranking Egyptian delegation and officials from the Egyptian intelligence service, to discuss the results of the work of the Egyptian-Libyan joint committee, which began its work two years ago, after the prime minister’s visit to Cairo, at the time, to meet with Egyptian President Abdel Fattah El-Sisi. 

In a separate meeting, the Egyptian delegation discussed with representatives of the Government of National Unity the launching of projects implemented by the consortium of Egyptian companies after taking over business sites, completing employment procedures and equipping their headquarters, in addition to discussing a package of projects in the field of electricity and infrastructure.

The two sides discussed the steps taken by the Egyptian side to facilitate the granting of visas to Libyan citizens, in addition to a number of files of joint cooperation and coordination.