the Libyan Public Expenditure Commission (PEC) has convened its first meeting in Sirte, central Libya, to discuss possible mechanisms for the implementation of transparency measures, organization of public spending, and fair distribution of state wealth and revenues of oil and gas.
The PEC was formed by the Libyan Presidential Council last week after threats of oil production blockade mainly by the eastern region; especially the Prime Minister-designate of the House of Representatives, Osama Hammad, who said the distribution of Libyan wealth was not made fairly to the regions. The PEC is headed by the Head of the Presidential Council, Mohammed Menfi, and the Chairman of the National Oil Corporation (NOC), Farhat Bengdara.
Menfi arrived at the meeting in Sirte on Thursday and said in his opening remarks that the PEC was looking for making public funds neutral to the ongoing political crisis, adding that he – and the Presidential Council as a whole – were working hard to create a suitable environment for holding elections.
“Allocating funds from state revenues and distributing them in a transparent and just manner is a doable technical step, whose implementation on the ground in all regions of the country necessitates unwavering willingness by all parties.” Menfi said.
