cbl

The parallel government announced on Wednesday its approval of the proposal to lift subsidies on fuel and petroleum products, and the preparation of an appropriate mechanism to implement this measure.

This came during a consultative meeting of Osama Hamad, head of the parallel government, at the headquarters of the Central Bank of Libya in Benghazi with Deputy Governor Marie Al-Barasi, members of the committee assigned by the governor to prepare the general budget's vision for 2025, and a number of department directors at the bank, according to a statement on the parallel government's Facebook page.

The statement added that the meeting witnessed the Hammad's approval to work with Law No. 18 of 2023 issued by the House of Representatives regarding the salaries of public employees, and also approval of the proposal submitted regarding including the revenues of the Libyan Investment Authority in the sources of financing the general budget.

Hammad explained that the attendees discussed the mechanisms for preparing the unified general budget proposal, where an agreement was reached on everything related to the first, second and fourth chapters of the unified general budget, and the discussion of the elements of the third chapter was postponed to a later meeting.

The statement indicated that the results of the meeting were represented in taking all necessary measures to achieve the desired goals of unifying the aspects of collecting and spending public money for all state institutions, to establish the principles of social and geographical justice for public expenditures, in accordance with the rules of transparency to confront the challenges facing the wheel of development and reconstruction in all parts of Libya.