The Attorney General held a meeting yesterday with the head of the Audit Bureau, Khaled Shakshak, the Governor of the Central Bank of Libya (CBL), Naji Issa, the chairman of the National Oil Corporation (NOC) and the Ministers of Finance and Transportation.
The meeting discussed achieving the compatibility of the method of exchanging (bartering) crude oil for fuel with the financial system of the state, and the reasons for reorganising the methods of importing and distributing fuel in a way that ensures the public interest.
The meeting also dealt with the Attorney General’s proposal to coordinate administrative measures aimed at supporting judicial measures aimed at eradicating the reasons for the practice of fuel smuggling activity by identifying the needs of the local market of hydrocarbons and following up on the activity of marketing companies.
It will be recalled that there is a wide belief that by the NOC buying fuel from abroad through a barter system using crude oil, it opens the system to corruption. It is not possible to follow up on the transactions transparently through a barter system and makes it difficult for the Audit Bureau do its job.
