Exclusive.. Confirming what was published by Sada, “Abu Sheha” explains to the Director General of Customs the conditions for exporting the products of the Iron and Steel Company

Sada Al-Eqtisadiah newspaper exclusively obtained a letter from the Acting Minister of Economy, Suhail Abu Shiha, to the Director General of the Customs Authority, which includes his confirmation that granting permission is limited to exporting the products of the Iron and Steel Company produced locally, which are manufactured by it, and marketed for export purposes.

He also explained the conditions in particular, which are that the export operations must be paid in accordance with the provisions of Article (1201) of the Commercial Activity Law, in accordance with approved banking operations.

Provided that the export is carried out directly by the company, or according to the quantities marketed by the company for the benefit of the private sector for the purpose of export, and confirmation of the arrival of foreign currency in exchange for the export to the company’s accounts in banks operating in Libya.

Referring a monthly statement to the Ministry of Economy and Trade of the quantities actually marketed for export purposes, and monitoring companies’ inventory periodically to ensure that exports do not affect demand in the local Libyan market, and referring the inventory balance, including the items, on a monthly basis.

And the shipment data shall be referred with the financial transfer or open credit in one of the banks operating in Libya, and the products prepared for export shall be priced according to the prices in effect in the global markets, and any other controls deemed necessary by the Customs Authority in accordance with the correct law and regulations in force.

You can also read the news in the source from Sada Al-Iqtisadiah newspaper.