The Libyan Presidential Council has issued a decision to form a National Committee tasked with determining the aspects of public expenditure and preparing financial arrangements.
The committee will be chaired by Mohammed Al-Manafi, the President of the Presidential Council, with Farhat Bengdara as the Deputy Chairman, and 16 other members including Mohammed Mosbah Abu Ghemjah, Ali Ibrahim Al-Suweih, Rida Ahmed Gargaab, Hatem Ali Miftah Hassan, Ahmed Abdullah Al-Murtada, Ali Hamed Arhoma Nasr, Mourai Miftah Al-Barasi, Mustafa Mohammed Al-Mani, Fakher Miftah Bufarna, Abdullah Ali Abdullah, Khalid Al-Mabrouk Abdullah, and Badr Al-Din Al-Sadiq Al-Toumi.
The committee is responsible for approving public expenditure and expenditure categories based on the principles of financial prudence and equitable distribution. It will also monitor the state’s public revenues to ensure their collection is accurate and efficient, as well as the soundness and efficiency of government spending in accordance with the committee’s recommendations.
The committee will seek the expertise of international and local institutions for financial development, policy-making, and enhancing transparency.
The committee is committed to keeping public funds neutral in political conflicts and creating a conducive environment for elections while ensuring fair distribution of sovereign resources during the transitional political phase.
Decisions of the committee regarding its assigned tasks will be made by a two-thirds majority of its members and any misuse of public funds will be considered a violation of the decision’s provisions.
