Financial expert Khaled Al-Zantouti has written an article addressing the increasing reports from international organizations regarding mismanagement, corruption, and the exploitation of public resources for personal and illegitimate gains by both official and unofficial entities.
The recently published UN Panel of Experts report, spanning around 300 pages with annexes, data, and charts, presents clear evidence of these issues, much like the latest Audit Bureau report. While some may question the Bureau’s impartiality, it is difficult to accuse an international body and global experts of bias. The report exposes systemic flaws, naming individuals involved, and provides a stark reflection of how political and economic affairs are being handled.
One key issue highlighted in the report is fuel smuggling. It points to the restructuring of the National Oil Corporation, resulting in the creation of the first private oil company authorized to export petroleum products—raising concerns that this restructuring may have facilitated smuggling operations. If privatization is truly the goal, it should be done transparently, allowing fair competition under market-driven conditions.
The report also details large-scale, systematic smuggling operations from government-controlled ports and state-owned companies, allegedly carried out by individuals with political or security influence. These operations, amounting to millions of tons of fuel and potentially billions of dollars, suggest that those in charge may be complicit—leading to the painful realization that the guardians may be the thieves.
Al-Zantouti urges immediate action: halt systematic fuel smuggling, launch judicial investigations, and hold those responsible accountable. He criticizes voices calling for subsidy removal or cash compensation while ignoring the urgent need to eliminate smuggling first. While he acknowledges the necessity of subsidy reforms, he insists that stopping fuel smuggling must come first. Only after securing national resources should Libya pursue economic reforms under a fair social safety net that ensures rightful distribution—whether through direct commodity subsidies or targeted cash assistance.
“Stop the smuggling first. Immediately.“
