A million cars taken from Libya to Chad, Sudan and Niger in 2016

A million cars taken from Libya to Chad, Sudan and Niger in 2016

January 16, 2017 - 21:36
Posted in:
Written By: AbdulkaderAssad

Over 100 trucks laden with hundreds of cars pass by Jalu, Ojla, Ajkhara and Al-Kufra every day en route to Chad, Niger, and Sudan, eyewitnesses were cited as saying by the Libyan News Agency.

According to cars businessmen in Libya, demand on cars in the market, including four by four ones, has soared with offers to pay even more than the cars are actually worth so that they get to transport them outside Libya to gain profit out of the gap created by currency exchange rates and because transporting them abroad costs very little money.

According to observers, about one million cars entered Libya’s markets and then were sold to the African markets.

Given the current devaluation of Libya’s dinar in exchange of foreign currencies, this business has bloomed lately, as the cars’ smugglers continue to exploit the feeble security situations in the country by avoiding paying taxes and customs tariffs, thus leading eventually to great profits.

Economists say such a business trend badly influences Libya’s economy and local trades as it helps raise prices with the increasing of markets’ demand amid the deterioration of the dinar’s value against foreign currencies, pointing out that strict constraints must be founded to end smuggling, such as reactivating the Customs Department offices on all of Libya’s borders to monitor any commodity departing the country.