The Presidential Council held today the first meeting of the High Financial Oversight Committee in Sirte to determine the aspects of public spending and prepare the financial provisions.
Mohamed Al-Menfi, the council’s chairman, presided over the meeting and announced the start of the committee’s activities and its determination to counter any attempt that could “disturb the operations of the national mechanism aimed at distributing Libyan resources fairly”.
He also stressed that the task of the committee will be challenging, but “it is essential to be able to manage the resources of the state”.
The Presidential Council approved the establishment of the committee on 7 July. Under It is composed of a president, a deputy and 17 members chosen from among the members of the House of Representatives, the High Council of State, the senior officers of the General Command of the Libyan National Army, officials of the Central Bank of Libya, experts of the Audit Bureau, representatives of the Administrative Control Authority and executives of the National Oil Corporation (NOC).