The vice chairman of the Financial Committee in the General National Congress. Saad Ben Sharada has confirmed that the removal of subsidies would be on food goods and partially on gasoline and diesel, while it would stay in place on water, medicines, public cleaning service companies and house electricity.
In a statement, Ben Sharada reaffirmed that the subsidies cuts’ values are to be paid for two months to all citizens before the removal comes in effect in an attempt to control market prices.
Each Libyan national will receive 50 dinars per month in subsidy substitution according to the subsidy removal plan.
Ben Sharada also clarified that cash payment of 50 dinars came after calculating the fuel and flour subsidies’ costs that reached 4.5 billion dinars, pointing out that the compensatory sums are to be distributed to all Libyan families according to the national ID numbers.