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Home Business

Alternatives to fuel subsidies with cash payments delivered to Aldabaiba

bySami Zaptia
June 27, 2022
Reading Time: 2 mins read
A A
Oil minister says fuel subsidies to go by 2016

(file photo).

Mohamed Hwej, the Minister of Economy and Trade in the Aldabaiba government, has referred to the government his proposals for alternatives to replace fuel subsidies with direct cash payments to citizens.

The Ministry said that one of the advantages of monetary subsidies is to achieve the principle of consumer sovereignty and freedom to determine their priorities, and do away with the need for administrative costs, and avoid price distortions in subsidies. They would also end fuel smuggling, illicit trade and their negative consequences on the Libyan citizen and state.

Proposal one
The first proposal is to pay a direct cash subsidy, and the amount that will be allocated to support citizens is LD 888.6 dinars for each citizen annually, to be disbursed through the system of heads of families.

Proposal two:
The second proposal is to replace the fuel subsidy with a social safety net, through which every citizen will receive LD 832 annually.

Proposal three:
The third alternative is to gradually replace the fuel subsidy and pay cash to citizens, to compensate for the rise in fuel prices, amounting to LD 414 dinars, to be disbursed through smart cards.

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Proposal four:
The fourth alternative is to gradually replace fuels and pay cash to citizens on the basis of the equilibrium price for selling foreign exchange, so that the citizen receives cash payment of LD 427.

 

Aldabaiba forms ministerial committee to study mechanism for fuel subsidy reform – again (libyaherald.com)

Prime minister Aldabaiba forms Ministerial committee to study reforming fuel subsidies, orders payment of family grant, increases pensions (libyaherald.com)

Libya’s Economic Reform Salon proposes reforms for the country’s fuel subsidies | (libyaherald.com)

Fuel subsidy reform proposal presented to Serraj government | (libyaherald.com)

Libya reduces subsidies on commercial-use kerosene | (libyaherald.com)

Subsidies are seen as an entitlement by Libyans: GNA Planning Minister | (libyaherald.com)

Government to reduce petrol subsidies | (libyaherald.com)

Cash for goods subsidy reform adopted by Tripoli authorities | (libyaherald.com)

Subsidy reform: petrol prices to be increased by 200% | (libyaherald.com)

2014 Budget commits government to subsidy reform by Jan 2015 | (libyaherald.com)

The 2014 Budget: Subsidies up – despite deficit and oil exporting crises | (libyaherald.com)

2014 budget expected to be LD 68.59bn – salaries and subsidies shoot up | (libyaherald.com)

Unemployment, subsidies, undiversified economy, stifled private sector – problems of Libyan economy: WB | (libyaherald.com)

Fuel subsidies removed over 30 months in three stages – Economy Minister Abufunas | (libyaherald.com)

Subsidy reform: Smugglers are the ones prospering from subsidies – Zeidan | (libyaherald.com)

Cabinet meeting forms committee on subsidies – Zeidan | (libyaherald.com)

Oil minister says fuel subsidies to go by 2016 | (libyaherald.com)

Tags: fuel subsidiessubsidies

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