Libya’s Minister of Economy and Trade, Mohammed Al-Huweij, has announced the launch of a new phase of market regulation aimed at stabilising prices, protecting consumers and dismantling monopoly structures and foreign currency smuggling networks.
Al-Huweij said his ministry, acting on instructions from the Prime Minister, has developed an integrated framework to reorganise the national market. According to official ministry statements, the strategy seeks to safeguard citizens’ purchasing power, ensure price stability, combat currency smuggling and regulate import flows through the adoption of an indicative budget designed to reflect actual market demand.
The minister noted that the ministry has begun granting incentives to traders who comply with regulations and contribute to supporting the national economy.
At the same time, he warned that authorities would wage a “firm and uncompromising” campaign against currency smuggling networks and any practices that undermine citizens’ livelihoods, in close coordination with law enforcement agencies.
Al-Huweij stressed the ministry’s determination to fully assume its legal responsibilities in direct cooperation with security and oversight bodies.
This coordinated effort, he said, is intended to dismantle monopolistic networks, curb illegal foreign currency circuits and confront what he described as the country’s “corruption barons,” while asserting state authority over the Libyan market.
As part of efforts to enhance transparency, the minister announced that his department will regularly publish lists of imported goods accompanied by indicative prices. These will be made available to the public to enable citizens to monitor market prices, limit manipulation and strengthen consumer protection.
At the institutional level, Al-Huweij also urged media outlets and journalists to verify the accuracy of information disseminated and to rely on official sources. He reaffirmed the ministry’s readiness to respond to requests for clarification and to address any public misunderstandings.
Finally, the minister underlined that the regulatory campaigns launched by his ministry will continue without interruption until commercial activity is fully organised and chaos and illegal practices are eradicated.
“This year is decisive: either we succeed in regulating trade and protecting the national economy, or we disappear,” he said, encapsulating the strategic stakes of this new phase of market regulation in Libya.
MK/ak/sf/lb/as/APA