The head of the Libyan Business Council’s (LBC) Media and Public Relations, Tarek Smuee, confirmed to Libya Herald today that the LBC held a meeting with its members, traders and investors last Saturday to discuss several important issues affecting economic and commercial security.
The meeting touched on:
- The status of expatriate workers and their control over local markets and services
- The latest developments related to economic decisions that would advance the national economy and support the private sector.
It was agreed that the LBC, which represents the private sector, would communicate with the competent authorities to address issues that would support this sector and issue supporting laws and decisions.
In light of this, Mohamed Abdel Majeed Al-Dali, the LBC Executive Director, was chosen as Chairman of the Libyan Merchants Committee to follow up on these procedures with the various entities.
In response, Al-Dali reminded the meeting that a letter was sent from the LBC and the Libyan Industry Union (LIU) to the Minister of Economy and Trade in the previous months.
He said the LBC’s participation in the meeting with the Economy Minister is evidence of its standing with merchants and manufacturers, and in the interest of the private sector.
Accordingly, the LBC requested the following:
- A silent seat in the Prime Minister’s Office so as to convey the voice of the private sector.
- Organizing expat workers by issuing temporary residency permits for them in coordination with the Interior Ministry and municipalities.
- Forming a committee to manage the stock market under the auspices of the LBC.
- Imposing fines on anyone proven to have transferred funds abroad to foreign workers.
- The LBC undertakes communication to bring together all spectrums of merchants, the private sector, and manufacturers.
It is worth noting that the above-mentioned LBC meeting and the meeting with the Economy Minister that it refers to is part of the LBC’s efforts to push for government policies that are favourable to the private sector.
The LBC had objected to a recent Economy Ministry decree changing regulations on import labelling. The Economy Ministry suspended the decree until a committee studied the decree further.
It is also an attempt to stop the government from issuing such decisions that affect the economy – without prior consultation with the private sector and to reverse the decades-long dominance of the state sector over the private sector.