The ministerial committee handling proposals for lifting fuel subsidies in Libya and introducing cash coupons held the first meeting Sunday in the presence of the Minister of Finance, Khalid Abdullah, who discussed with the members the available alternatives to fuel subsidies.
The Minister of Finance said in a statement that the meeting reviewed proposals for alternatives to fuel subsidies and subsequent measures, detailing the advantages and disadvantages of each option.
He also said the best alternative will be based on a comprehensive economic study of the government’s capabilities and people’s living conditions.
The Minister further indicated that the alternative should prioritize the purchasing power of people and then be of a light financial impact on the state’s treasury.
He said the ministerial committee will consider the available alternatives that have positive impact on people and will study the proposals to see the way they can help the Government of National Unity limit smuggling fuel operations and better living conditions for citizen.
The Minister of Finance also said that the meetings will continue to be held to review the alternatives and draft a final one to the Prime Minister’s office.