No Result
View All Result
Friday, October 31, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • 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

Supplies of basic commodities plentiful for Ramadan: Economy Ministry

bySami Zaptia
February 23, 2023
Reading Time: 2 mins read
A A
Supplies of basic commodities plentiful for Ramadan: Economy Ministry

The Ministry of Economy and Trade said that there were large quantities in the market of various basic goods to meet the needs of consumers for the coming months, including the month of Ramadan (Photo: Sami Zaptia - archives).

The Ministry of Economy and Trade said that there were large quantities in the market of various basic goods to meet the needs of consumers for the coming months, including the month of Ramadan. The fasting month of Ramadan is a high consumption month of foodstuffs.

Libya imports over 80 percent of its foodstuffs which are dependent on (hard currency) letters of credit being granted by the Central Bank of Libya. The prices of these food import are invariably linked to world prices and inflation.

The news was revealed during a meeting led by Mohamed Hwej at his Ministry on Monday. The meeting including several relevant entities, including the Union of Chambers and regional Chambers of Commerce, the Libyan Business Council and the Libyan Industry Union.

Price stability and health requirements
The meeting discussed mechanisms for controlling and stabilizing prices during the holy month of Ramadan. It also reviewed the current market situation and January prices, and the extent of providing basic commodities as well as providing health requirements in the goods.

Plenty of goods available
However, the ministry reported that attendees emphasized the availability of large quantities for the coming months from various goods in stores to meet the needs of the consumption of citizens, including the requirements of the holy month of Ramadan – which starts around 23 March.

RELATED POSTS

Libyan and Tunisian Ministers of Economy discuss strengthening cooperation, implementing Joint Committee recommendations

Minister of Economy Hwej meets Moroccan Minister of Foreign Trade to discuss developing economic relations

Three months’ stock
Nevertheless, the Minister called on suppliers to maintain stocks of basic commodities for at least three months. He praised the cooperation of the Central Bank of Libya in opening the necessary letters of credits for importers – in time and to cover demand.

Opening new livestock import market
The ministry also reported that there will be coordination with the Food and Drug Control Centre and the Animal Health Centre with the possibility of opening new markets for importing meat, which contributes to facilitating the import process for suppliers.

Workshop on consumer protection
The Minister indicated that all measures are taken to protect the consumer from the high prices. In this context, a workshop will be held on consumer protection with civil society institutions. He thanked the Administrative Control Authority for its adoption and support for issuing the Consumer Protection Law.

Needy families to be compensated
The Minister also indicated that the government of national unity will compensate needy families during the blessed month of Ramadan and work to import live animals in agreement with the Ministry of Agriculture to maintain market stability.

Tripoli Chamber of Commerce’s view
Attending the meeting, Tripoli Chamber of Commerce reported that the attendees also touched on a number of difficulties and obstacles facing business owners and companies in the operations of supplying goods and transporting goods through the ports. They put forward proposals that contribute to overcoming the difficulties, supporting suppliers, facilitating supply and flow of goods, and stabilizing their prices in the local market.

Strategic stocks of all food commodities
Tripoli Chamber reported that the Minister directed the implementation of a joint mechanism under the supervision of the Ministry of Economy and Trade and the participation of relevant authorities, chambers of commerce and business owners that contribute to the continuity of the availability of strategic stocks of all food commodities, follow-up on their flow, and facilitate financial procedures for suppliers and transport and handling operations in coordination with the competent authorities.

Call to sell basic foodstuffs at cost during Ramadan
The Minister also called on businesses to adopt the initiative to sell basic commodities at cost during the holy month of Ramadan.

Tags: economy minister Mohamed Hwej GNUMinistry of Economy and TradeRamadan supplies and food prices

Related Posts

Libyan Export Promotion Centre changes to become Libyan Export Development Authority – new logo adopted
Business

Unified Services Window system for exports to be launched ‘‘to create real export statistics and data’’: LEDA

October 31, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Business

PM’s Financial Advisor Shahoubi holds meeting on lack of banking facilities for small importers – Tripoli Chamber calls for suspension of 42/2025

October 30, 2025
Job protestors shut down Sirte Oil: gas shortage threatens eastern power-making
Business

Sirte Oil and Gas Company announces restart of production at Second methanol plant – First methanol plant to restart ‘‘in the coming days’’

October 30, 2025
Benghazi’s Julyana Free Port increases shipping traffic: 43 ships docked in January
Business

Julyana Free Zone port takes delivery of two made-to-order bulk grain unloading machines with a capacity of up to 600 tons per hour from Belgium

October 30, 2025
NOC announces force majeure at Zawia port
Business

NOC announces new oil discovery in Sirte Basin by Austria’s OMV – with test production of over 4,200 bpd and over 2.6 million cubic feet of gas per day

October 29, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Business

Tripoli PM Aldabaiba receives energy giant Chevron delegation – Chevron finds current Libyan operating conditions a significant opportunity

October 29, 2025
Next Post
Libyan Technical (TVET) institutes visit UK – part of Almaharat project

Libyan Technical (TVET) institutes visit UK – part of Almaharat project

Ministry of Economy discusses activating role of Credit Guarantee Fund in supporting the economy: Report and analysis

Food Security: First meeting of Advisory Committee of the Grain Bureau

libyaherald-Ads

Top Stories

  • New Libyan artificial intelligence system ‘‘LIBIGPT’’ to be launched soon

    Libya’s first AI system, LIBIGPT, launched in presence of Minister of Economy and Trade

    0 shares
    Share 0 Tweet 0
  • Libyan Development & Reconstruction Fund signs contracts for new Tobruk projects with Slovenian, French, Turkish, Italian, and Egyptian companies

    0 shares
    Share 0 Tweet 0
  • Sirte Gulf International Airport opened

    0 shares
    Share 0 Tweet 0
  • Tripoli government opens investigation to determine responsibilities and accountability for Misrata clashes between its own forces

    0 shares
    Share 0 Tweet 0
  • Chinese Chargé d’affaires to begin work at embassy in Tripoli mid-November – opening direct cargo flights, holding Libyan Chinese Economic Forum before year end discussed

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
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

Unified Services Window system for exports to be launched ‘‘to create real export statistics and data’’: LEDA

PM’s Financial Advisor Shahoubi holds meeting on lack of banking facilities for small importers – Tripoli Chamber calls for suspension of 42/2025

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.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

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

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.