Bashagha: “Dbaiba” Owned Companies Control Libya’s Economy


On Sunday, Libyan Prime Minister-designate, Fathi Bashagha claimed that “only three or four companies control the Libyan economy.”

He explained that “those companies are owned by family members of the Prime Minister of the Government of National Unity (GNU), Abdel-Hamid Dbaiba.”

In a speech, Bashagha stressed that the GNU “failed to lead Libya to elections, and does not have the will to meet the aspirations of the Libyan people.”

He said that Dbaiba’s government “only seeks power, with the help of some countries that have certain interests in Libya.”

In addition, Bashagha accused the GNU of obstructing the country’s long-awaited elections. “We should have now had a new government, a new Parliament, and an elected President had the elections been held as scheduled.”

“The Libyan economy is totally controlled by three companies owned by the family of Abdel-Hamid Dbaiba, and we receive reports from currency dealers that money is directly deposited in the bank accounts of these companies.” He indicated that this is “behind the current economic recession, which could be catastrophic if the situation continues unchanged.”

The PM urged for “putting the Libyan economy on track, by forming a national committee tasked with preventing the monopoly of Libyan funds, at the hands of a small number of businessmen and traders.”

He affirmed the legitimacy of his government, which obtained the confidence of the Libyan Parliament, and the High Council of State (HCS).

He described the current situation as “very dangerous and no free Libyan would accept that the current state of chaos would continue indefinitely.”

Tensions have been rising for months in Libya as two prime ministers vie for power; raising fears of renewed conflict two years after a landmark truce.