The House of Representatives (HoR) issued a decision to form a committee headed by Omar Tantoush and the membership of 11 others, to develop a vision for restructuring the state’s general budget “to ensure that all of the Libyan people enjoy their country’s resources, and to achieve effective and transparent oversight of revenues from their various sources as well as expenditures in their various aspects.”
The decision says that the committee proposes ways to gradually lift subsidies on fuel to reduce the squandering of state revenues, with the exception of fuel for power plants and factories.
The committee is also responsible for proposing a mechanism for spending on the contracted projects and those currently being implemented by the two governments to include them in statements and appendices attached to the proposed budget for approval by the House of Representatives.
Economy
