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PC assigns El-Majbary the head of BTC

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The Presidential Council (PC) of the Government of National Accord (GNA) decided to form the Budget and Treasury Committee (BTC), a seven-member committee, headed by Vice-president of the PC, Fathy El-Majbary, to manage budget and treasury, make promissory notes for ministries, and ratify promissory notes issued by treasury department.

The decision committed the Central Bank of Libya (CBL) not to accept any unauthorized notes from the formed committee. The decision granted the committee powers to consider requests from ministries, entities and governments to cover expenditures.

The PC decision pointed that the BTC authority ends once the minister of finance officially receives his duties.

The seven-member committee included general director of the banking supervision in the CBL, the CBL banking operations general manager, the treasury department manager in finance ministry, the inspection and supervision manager, and the manager of financial resources department at finance ministry.