Audit Bureau: Libya Presidential Council’s pass for $1.5 billion worth imports “fishy”

Audit Bureau: Libya Presidential Council’s pass for $1.5 billion worth imports “fishy”

March 29, 2018 - 12:43
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Written By: AbdulkaderAssad

The Libyan Audit Bureau has sent a letter to the Presidential Council (PC) objecting to the latter’s decision to import over 1 billion dollars’ worth commodities through documentary credits.

The Audit Bureau told the Presidential Council that there are orders issued by the importation budget commission for the same commodities to cover the needs of the local market, pointing out that there are decisions in the making at the banks to cover the importation process of those goods with foreign currency from the Central Bank of Libya.

“There are dubious and corruption signs pointing at the PC’s decision as it goes at odds with the Audit Bureau’s recommendations and the short time for the bills to be delivered, which means that the transactions had been prepared before the decision to approve them was taken.” 
The Audit Bureau adds, saying such a decision by the PC can add to the economic crisis in Libya.

It says there’s an intentional push for creating a crisis using such decisions and via importing commodities that can be locally provided.

The PC must stop its decision until it is fully studied and until the Audit Bureau receives the process and details of the PC’s meeting when the decision was taken.

Last Sunday, the PC ordered importing commodities and foods by documentary credits worth 1.5 billion dollars before the coming of Ramadan, which sparked reactions including the accusation of corruption to the PC.