Libya’s Tripoli based Prime Minister, Abd Alhamid Aldabaiba, held a meeting yesterday at the Central Bank of Libya (CBL), with the Governor of the CBL, Saddek El-Kaber, the head of the Audit Bureau, Khaled Shakshak, and the head of the National Oil Corporation (NOC), Farhat Bengdara, in the presence of the Minister of Finance-designate, Mohamed Al-Shahoubi, the Minister of State for Cabinet Affairs, Adel Jumaa, and others.
The meeting discussed the fuel file, in addition to the file to support the NOC’s plan to increase production and the quantities of fuel supplied to the Libyan market, and the file to combat fuel smuggling.
Establish Libya’s real needs of fuel quantities
It was agreed during the meeting that the Ministry of Economy should determine the actual need for fuel quantities, and that the NOC should launch the fuel delivery trucks tracking system and oblige all distribution companies to work with it.
Fuel subsidies substitution
The attendees also agreed on the necessity of working hard on the issue of removing fuel subsidies in accordance with an economic vision through the participation of all state institutions, to reduce smuggling and the supply of unrealistic amounts of fuel into the local market, while replacing subsidies for the benefit of the citizen.
PPP in the oil and gas sector
The Tripoli Libyan government said the meeting also discussed the necessity of activating the local private sector’s contribution to the NOC’s plan to increase production and establish the principle of participation with all international institutions to support it.