The Ministry of Economy: We proposed to the government to subsidize wheat, rice and cooking oil during the 2022 budget.

The Director of the Commercial Department at the Ministry of Economy, Mustafa Qadara, said that they submitted a proposal to the government to partially subsidize 3 commodities, which are wheat, rice and edible oil during the 2022 budget.

Qadara added in a statement to Al-Araby Al-Jadeed that the value of the proposed support will be 40% of the commodity, because the rise in wheat prices globally has greatly affected the loaf of bread, and rice has witnessed a significant increase during the past months by up to 75%, as well as cooking oil.

Qadara explained that the prices at the present time do not match the purchasing power of the dinar, and that the ministry is seeking to establish a grain stock, through which the flour will be distributed with government support by 40%, in order to provide a food stock for Libya while monitoring prices.

Last November, the Ministry of Economy and Trade issued a decision to determine the prices of some food commodities that the citizen needs on a daily basis and assigned the municipal guards, judicial control officers and the competent authorities to take legal measures against the violators and refer them to the competent authorities.

Al-Hibri: Half of the state’s financial reserves have been lost.

The Ministry of Oil collects dues exceeding two billion dollars from foreign companies, the “NOC” has postponed collecting.