Fathi Al-Maryami, the media advisor to the Speaker of the Libyan House of Representatives (HoR), praised the decision of the Presidential Council to implement distributing oil revenues. He added the decision puts an end to unauthorized financial practices.
Speaking to reporters, Al-Maryami noted there is a waste of money in the country, and it was necessary to limit unauthorized financial practices through the Arrangements Committee.
He added that the Committee will be concerned with monitoring the financial movement in Libya and expressing its opinion on it.
He concluded by explaining that “the parliament previously announced the formation of a high-level committee to supervise the distribution of oil revenues among the regions and provinces of Libya.”
The distribution of oil revenues has been a contentious issue in Libya, with various factions vying for a share of the country’s resources. The presidential decision to distribute oil revenues is a step towards addressing this issue and ensuring that the funds are used for the benefit of all Libyans.
The arrangements committee will play an essential role in overseeing the distribution of oil revenues and ensuring that the funds are used in a transparent and accountable manner. This move is a positive step towards promoting financial stability and reducing waste in Libya.
The formation of a high-level committee to supervise the distribution of oil revenues is also a welcome development. This committee will help ensure that the distribution of oil revenues is fair and equitable, and that the funds are used for the benefit of all Libyans.
Libya’s oil reserves are a valuable resource that can contribute to the country’s economic development and help improve the lives of its citizens.
For its part, the United Nations Support Mission in Libya (UNSMIL) welcomed the decision made by the Libyan Presidential Council to establish a High-Level Financial Supervisory Committee.
The committee includes representatives from the House of Representatives, the High Council of State, the Government of National Unity, the Libyan National Army, the Audit Bureau, the Administrative Control Authority, and the National Oil Corporation, in addition to the Presidential Council.
The UN mission believes that this inclusive approach will help ensure equal opportunities for all candidates in the impending elections. It will also foster transparency in the spending of public funds and promote a fair distribution of national resources.
