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Energy/Mining

LIBYA/OIL PROFITSBack
[Published: Monday September 01 2008]

Gaddafi 'to hand out oil profits'

Benghazi , Libya ,2 Sept-(ANA)- Libyan leaderMuammar Gaddafi has said oil money should be given directly to citizens, aspart of sweeping economic and political reforms.

Speakingduring celebrations to mark 39 years in power in Libya'ssecond city, Benghazi, Col Gaddafi extolled the virtues ofprivatisation.

Hesaid society would "reformulate itself in a new, free, and democraticway".

Thechanges will take place in the next four months, he said.

"Themoney that we put in the education budget, I say let the Libyans take it,"Col Gaddafi said in a 100-minute televised speech to the General People's Congress, Libya'sequivalent of a parliament.

"Putit in your pockets and teach your kids as you wish, you take responsibility."

"Aslong as money is administered by a government body, there would be theft andcorruption".

Headmitted there would be "chaos" while the reforms were implementedbut urged people "to be ready" to receive their money. (ANA)

FA/ANA/2September 2008---


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