The High Financial Committee held its third regular meeting in Benghazi and was chaired by the Head of the Presidential Council, Mohammed Menfi, as well as all of the Committee's members, including Ministers from the Government of National Unity.
According to the press briefing of the committee, its members and its chairman agreed to set and unify standards for the disclosure of revenue and public expenditure data in all Libyan state institutions, and to ensure comprehensive and unified disclosure.
It indicated that it had reviewed the revenue and expenditure data, according to the reports of the Ministry of Finance and the Central Bank of Libya, in addition to discussing the work of the technical committees in charge of following up on the budget and related technical observations, in addition to issuing the necessary recommendations in this regard.
The Committee indicated that Benghazi's hosting of the meeting was consistent with its direction to hold its meetings in all Libyan cities to emphasize the national dimension of its work. It also pointed out that the Libyans' welcoming of the establishment of the Committee and the implementation of its tasks was a positive indication of their desire to resume development projects, and to reject a return to war and division.
The Presidential Council issued on July 06 a decision to form the High Financial Committee to determine aspects of public spending and follow up on financial arrangements.
The Committee held its first meeting on July 20, in Sirte and it was chaired by Mohammed Menfi and his deputy, Farhat Bengdara. They discussed mechanisms for implementing the decision to regulate public spending, enhance transparency and fair distribution of the country's wealth revenues, especially oil revenues.
The second meeting took place in Tripoli on July, 26, in which it reviewed the results of the Committee's work for the purpose of limiting the problems and presenting solutions to the first, second, third and fourth chapters on public spending.