Libya's HoR rejects selling state assets in Central African Republic

Libya's HoR rejects selling state assets in Central African Republic

January 30, 2023 - 19:26
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Written By: AbdulkaderAssad

The Libyan House of Representatives (HoR) rejected on Sunday selling Libyan state assets in the Central African Republic (CAR) in a public auction, the HoR's Economy and Investment Committee said in a statement, adding that the upcoming sale process was a legal and moral violation as well as a looting of the assets of the Libyan people.

The HoR's statement demanded an immediate halt of the auction and called for taking all required accountability measures against those responsible for this step in order to protect Libyan investments in CAR and other countries.

"We will initiate a criminal case if the auction continues to be held,” the statement said, calling on CAR government to act in accordance with the agreements concluded between the two countries.

The Libyan African Investment Company (LAICO) said it owned a five-star hotel, two residential buildings, and a piece of land obtained by Libya in exchange for loans granted to CAR according to an agreement signed between the two countries in 2007.

The media advisor to the Libyan Investment Authority, Louay Al-Gareyo, said on Saturday that what happened to the Libyan CAR investments was not surprising, including the auction announcement, adding that this situation was a result of the overlap of interests between the former director of the company and some influential personalities in CAR, as the state authorities in there still support the former director of the company and provide him with security protection.

On Saturday, LAICO rejected the auctioning of its assets, blaming one of its  employees in CAR for it, and accusing him of refusing to hand over the company's management duties at the end of his mandate period.