Al-Sarraj agrees to raise capital of Libya's General Electricity Company

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Al-Sarraj agrees to raise capital of Libya's General Electricity Company

July 27, 2020 - 20:29
Written by: AbdulkaderAssad

The Head of the Presidential Council Fayez Al-Sarraj, as the Chairman of General Assembly of General Electricity Company of Libya (GECOL), has agreed to increase the capital budget of the GECOL.

The agreement came in a meeting Monday to discuss issues raised in previous meetings. The meeting also endorsed a new committee for the GECOL Control Authority, in addition to amendment of certain laws.

At the beginning of July, the General Assembly of GECOL approved the preliminary budget of 2020 as per criteria that included cutting spending. The second meeting this month saw a reshuffle of the board of directors of the GECOL.