No Result
View All Result
Thursday, September 28, 2023
25 °c
Tripoli
25 ° Fri
24 ° Sat
24 ° Sun
24 ° Mon
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya’s Economic Reform Salon proposes reforms for the country’s electricity sector

bySami Zaptia
July 15, 2020
Reading Time: 2 mins read
A A
Libya’s Economic Reform Salon proposes reforms for the country’s electricity sector
16
SHARES
68
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

London, 15 July 2020:

The Economic Salon, a Libyan policy reform think-tank made up of the country’s elite administrators, managers, politicians, activists, media personalities and business people, has proposed reforms for Libya’s ailing electricity and renewable sector. These involve short and medium-term reforms.

The reform paper clarified the nature, reality and features of the electricity and renewable energies sector in Libya, relying on issued legislation, official data, and publicly published statistics. It proposed a package of reforms and quick solutions to provide 1,200 MW of power in the short term needed to reduce the immediate shortfall, through the urgent completion of the halted power stations projects.

RELATED POSTS

General Union of Chambers signs training agreement with UN body

NOC invites Libyan private sector to bid for tenders to develop marginal fields

The proposal also recommended additional contracting with implementing companies and the purchase of electricity from neighbouring countries, but also the necessity of seriously changing consumer culture regarding energy rationalization and use with detailed suggestions as to how to achieve this.

With regards to the medium term, the reform proposal emphasised the necessity of restructuring and regulating the electricity and renewable energies sector by reviewing legislations, and regulations, and amending them in a way that serves the process of reform and development. This include the creation of a ministry that includes electricity, energy, oil and water, sharing the management and operation of transport and distribution services between the public and private sector. This would be done, the reform paper said, in preparation for extracting the state from the sector in the future, and encouraging competition between the private sector through bidding processes while the state retains its supervisory role.

With regard to the business model of the state General Electricity Company of Libya (GECOL), the company responsible for this sector, the reform paper stressed the need to stop government subsidies to the company and to make it responsible and accountable for its profits and losses, including its assets and liabilities, and transfer of ownership of some affiliated companies to the private sector.

The paper also made some recommendations related to the General Assembly, the Board of Directors, and the Authority Monitor.

It also focused on reducing expenses and increasing revenues of the sector by reviewing service purchase contracts, reducing the number of employees, stimulating bill collection, whether from government agencies or foreign companies, adopting modern technologies and adopting international costing standards.

The Economic Salon proposal concluded its recommendations by indicating that in order to head toward a more energy-efficient system, a digital transformation in the company’s services is required, imposing taxes on the import and purchase of non-energy-saving means, applying international standards in all aspects of the electricity and energy sector, and work towards the trend of solar and gas energy.

The full paper can be obtained in Arabic from the Economic Salon.

Copyright: The Libyan Economic Salon

 
Tags: electricity sector reformfeaturedprivate sectorthink tank
Share6Tweet4Share1

Related Posts

Dutch embassy assesses security standards, rules and procedures at Tripoli’s Mitiga airport
Business

Civil Aviation Authority concludes meetings with Turkish Civil Aviation team inspecting airports for possible return of Turkish airliners

September 22, 2023
Libya’s eastern government meets Egyptian companies to discuss post Storm Daniel reconstruction
Business

Libya’s eastern government meets Egyptian companies to discuss post Storm Daniel reconstruction

September 22, 2023
Electronic Tracking system for imported goods goes into operation
Business

Customs Authority implements digital transformation through pilot project for customs declaration e-portal

September 21, 2023
Libyan Business Council to complete a stalled 2,000-apartment project in Derna to house flood victims
Business

Libyan Business Council to complete a stalled 2,000-apartment project in Derna to house flood victims

September 21, 2023
Electronic Tracking system for imported goods goes into operation
Business

Libyan Customs Authority signs agreement with Dubai-based Webb Fontaine for Advance Cargo Information System

September 21, 2023
Turkey agrees to reduce age range for Libyans requiring an entry visa
Business

Technical Turkish delegation reaffirms desire for return of Turkish airlines to Libya

September 12, 2023
Next Post
Sahary Bank launches interest free card loan to buy Eid ram

Sahary Bank launches interest free card loan to buy Eid ram

Average Eid ram prices fall in eastern Libya to about US$ 163

Average Eid ram prices fall in eastern Libya to about US$ 163

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Dutch embassy assesses security standards, rules and procedures at Tripoli’s Mitiga airport

    Civil Aviation Authority concludes meetings with Turkish Civil Aviation team inspecting airports for possible return of Turkish airliners

    70 shares
    Share 32 Tweet 16
  • Eastern Libyan government calls for international reconstruction conference for Flood Daniel hit areas

    65 shares
    Share 34 Tweet 13
  • Internal Security arrests NOC Chairman’s Office Manager for corruption in supply of medicines for Derna and its environs

    51 shares
    Share 21 Tweet 13
  • Libya’s eastern government meets Egyptian companies to discuss post Storm Daniel reconstruction

    47 shares
    Share 19 Tweet 12
  • UNSMIL head Bathily calls on polarised Libyan political entities to follow their citizen’s lead by unifying post the Derna disaster

    56 shares
    Share 30 Tweet 11
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

UNDP installs solar power for Jufra municipality to operate water wells

Switzerland offers extra CHF 1 million for Libyan flood effort

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?