The Chairman of the state Libyan Post, Telecommunications and Information Technology Holding Company (LPTIC), Mohamed Ben Ayad, revealed increasing revenues for his organisation. The meeting is seen as a response to some criticism that LPTIC is not transparent in reporting its revenues.
The revelation was made during his meeting Thursday with Tripoli based Libyan Prime Minister Abd Alhamid Aldabaiba who praised the efforts made by workers in the communications sector in all its fields.
Increasing revenues
During the meeting, the Tripoli government’s official media site said, Ben Ayad presented several positive indicators regarding the revenues achieved in the telecommunications sector, explaining that revenues for 2021 amounted to 646 million dinars, LD 695 million at the end of 2022, and increased during 2023 to reach 913 million dinars.
Telecoms revenues will increase further in 2024
Ben Ayyad confirmed that the revenues of the telecommunications sector will increase in the year 2024, indicating that the disclosure of revenues will be made at the end of the current year, and are referred to the General Authority for Communications, which coordinates with the Ministry of Finance.
Bin Ayyad also presented a summary of the most important technical programmes and projects that aim to develop and diversify the services provided to citizens throughout the country.
Necessity of disclosure and transparency
In turn, the Tripoli government reported, Aldabaiba stressed the necessity of disclosure and transparency in all procedures taken by the company and the group companies, and clarifying any data or information to the citizen, praising the efforts of workers in the telecommunications sector by providing services to all Libyan regions and increasing the revenues generated incrementally in support of the general budget.
Aldabaiba further stressed the need for all financial institutions to disclose their annual profits without exception, and to consider this standard as one for any Libyan institution.
