By Sami Zaptia.
London, 7 August 2019:
Libya’s Misrata-based and state-owned iron and steel company (LISCO) announced Monday that it was reducing the price of its products as of today (7 August).
The reduction reflects the reduction announced on 30 July by the internationally-recognized Tripoli government led by Faiez Serraj of the surcharge on the official sale of foreign currency by banks to Libyans.
The reduction of the surcharge from 183 percent down to 163 percent will bring down the cost of a dollar by 7 percent down from LD 3.99 to LD 3.71 per US dollar.
The Libyan Iron and Steel Company is reducing the prices of its products.
In line with this decision LISCO has also reduced the sale price of its iron and steel products.
It will be recalled that LISCO has enjoyed a resurgence in exports recently after production has exceeded local consumption.
Serraj government reduces foreign currency sale surcharge by 7 percent