The Undersecretary of the Tripoli based Ministry of Economy and Trade, Suhail Abu Shiha, confirmed that the campaign launched by the Tripoli government to control prices and goods in the local market has achieved positive results. A clear decrease in the prices of basic commodities has been recorded as part of a gradual price correction without resorting to price controls.
In a statement to one of the government media sites, Abu Shiha explained that this decrease is now tangible for citizens in the local market. He said some goods saw price reductions exceeding 30% on 5 January, before the campaign began, reflecting its impact on the ground.
He indicated that the campaign is ongoing and will cover all cities and regions across the country, in accordance with the Prime Minister’s directives. He emphasized that the work is being carried out in accordance with applicable regulations and laws, through monitoring the lists of approved goods for each item and each beneficiary merchant, thus ensuring transparency, discipline, and the stability of the local market.
Economy Minister approves new set of penalties for overpricing
Undersecretary Abu Shiha’s comments come on the back of the Tripoli Ministry of Economy and Trade Mohamed Hwej approving yesterday a new set of penalties targeting companies and retail shops that violate market regulations.
The measures include fines for price manipulation and hoarding, penalties for refusing electronic payment methods, and sanctions against businesses that fail to supply goods imported under Letters of Credit which avail importers a preferential exchange rate.
Retail shops that refuse card or electronic payments will face immediate fines, with higher penalties for repeat offenses.
A crime against national security
The decision aims to strengthen market discipline, protect consumers, and promote the use of electronic payments across the country. It also considers violators to have committed a crime against national security
Municipal Guards continue inspection campaigns
The move has been reinforced by inspection tours on commercial activity by members of the Support and Patrols Department of the Municipal Guard Authority. These include monitoring prices and ensuring compliance with the approved prices for food commodities, based on the instructions of the head of the Municipal Guard Authority, Major General Rajab Gatousa.
Security patrols seized trucks loaded with food commodities en route to being smuggled
In parallel with these moves, the Tripoli government reported that security patrols from the Joint Security Room in the city of Mizdah seized trucks loaded with food commodities, including oil, tomatoes, and flour, en route to southern regions without any accompanying legal documents or official invoices.
The government said investigations revealed that the seized goods had been purchased with bank import Letters of Credits intended for distribution to citizens but were being diverted outside the local market for sale in other areas. The necessary legal measures were taken, and the seized goods were transferred to the Municipal Guard, as per its jurisdiction.
