Tripoli – The Ministry of Economy and Trade in Libya announced the launch of a campaign to price basic commodities supplied through official credits and to monitor the importing companies, starting with oil and animal feed. It confirmed its commitment to protecting the market and promoting fair competition.
The Ministry clarified in a statement that granting approvals to open credits is not within its jurisdiction, noting that it has not restricted the supply of any goods or services that conform to approved specifications, in implementation of Law No. 23 of 2010.
It added that focusing on the formal reasons for the increased demand for foreign currency without seriously investigating the real beneficiaries does not reflect the full picture of the problem. It confirmed that it has begun working to clarify the real causes of these phenomena and address them at their root using microeconomic tools, free from any bias or restrictions.
The Ministry of Economy and Trade emphasized its commitment to promoting fair competition and ensuring that resources are directed in a way that serves economic stability, as part of its efforts to regulate the market and provide basic commodities to citizens.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later came under Roman, Byzantine, Arab, Ottoman, and Italian rule, which is reflected in its historic architecture, such as the Red Castle (Assaraya al-Hamra) and the old medina.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by Arab Islamic influence from the 7th century. In the modern era, it was an Italian colony before gaining independence in 1951 and was later ruled by Muammar Gaddafi from 1969 until the 2011 revolution. Its cultural sites include the well-preserved Roman ruins of Leptis Magna and the historic old town of Ghadames.
Ministry of Economy and Trade
The Ministry of Economy and Trade is a government department typically responsible for formulating and implementing national economic and commercial policy. Its history is generally tied to the modern development of the state it serves, often evolving from earlier departments of commerce or industry to address the complexities of contemporary global trade.
Law No. 23 of 2010
Law No. 23 of 2010 is not a place or cultural site, but an Indonesian law concerning environmental protection and management. It was enacted to replace the previous 1997 law, strengthening the legal framework for sustainable development and environmental governance in Indonesia. The law establishes principles for environmental management, outlines the responsibilities of various stakeholders, and provides a basis for enforcement.
