The head of the Price Stabilization Fund (PSF) Jamal Al-Shaibani, said that prices of flour in the market are exaggerated.
In a press statement, Al-Shaibani explained that prices are currently controlled by a group of businessmen and that the quantities of wheat worth of 30 million dinars, allocated by the Presidential Council, is below the demand and will not be enough for more than a month and a half.
He pointed out that the PSF was denied permission to supply flour since 2016 by the Central Bank of Libya (CBL), demanding that the supply of wheat to be exclusive to the PSF in order to sell it to the mills at the same price.
The prices of bread have witnessed an unprecedented spike in the past period after wheat flour reached more than LYD 250 dinars per quintal. Bakery owners started to sell a loaf of bread for half a dinar, attributing the crisis to the high price of flour in the market.
Economy