See also:
» 16.02.2011 - Libya economy reveals basis for protests
» 02.12.2009 - Swiss nationals get jail terms in Libya
» 23.11.2009 - Libya and FAO sign $71 million development deal
» 15.05.2009 - Libya gets 3 patrol boats from Italy
» 23.03.2009 - Libya to recruit Bangladesh workers for dev projects
» 18.12.2008 - Africa commits to water development to fight hunger
» 15.12.2008 - Africa summit discuss massive hydro scheme for food and energy security
» 18.11.2008 - UK and Libya sign double taxation convention

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Politics | Economy - Development | Society

Parliamentarians delay Gaddafi’s oil revenue plan

afrol News, 4 March - Libyan parliament has put on hold the implementation of Muammar Gaddafi's ambitious plan to distribute oil proceeds among the people, state media has reported.

In September last year, President Gaddafi promised to distribute oil revenues to all citizens as part of a political reform and to root out endemic corruption in government the beginning of 2009, marking the anniversary of a coup that brought him to power on 1 September, 1969.

Libya's official Jamahiriya News Agency said that 251 of the 468 of the country's Basic People's Congresses had approved the plan in principle, but voted to delay implementation until special measures are set in place.

The Libyan leader, who has strongly advocated for the country to hand out oil revenues to the people would have distributed about US$32 billion this year alone to the ordinary citizens.

The country's five million people has about a million of the poorest who could reportedly receive up to 30,000 dinars ($22,990) a year each if the parliament would endorse the revenue plan.

The president’s plan was initially planed to afford Libyans an opportunity to create their own investments and businesses with the money.

Mr Gaddafi had accused state bank officials of having stolen millions in public funds and with further complaints by Libyans of corruption, mismanagement and nepotism on state assets.

Much of what Col Gaddafi said endorsed the recent calls made by his son, Sayf al-Islam Gaddafi who announced his retirement from politics in August.

Libya currently produces around 1.8 million barrels a day of crude oil.

- Create an e-mail alert for Libya news
- Create an e-mail alert for Politics news
- Create an e-mail alert for Economy - Development news
- Create an e-mail alert for Society news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at