Madrid – Minister delegate for foreign affairs Mbarka Bouaida reiterated, on Wednesday in Madrid, Morocco’s dynamic commitment to international and regional efforts to find a solution to the Libyan crisis as part of a global approach. Speaking at the ministerial conference on Libya’s stability and development, Bouaida underlined Morocco’s resolve to integrate itself “with dynamism” in efforts meant to find a solution to the Libyan crisis as part of a global approach which brings together the security, political, humanitarian and development dimensions as a means to ensure stability and progress in the country.The official also expressed Morocco’s will to assist Libya in addressing its challenges to turn the country into a reconciled, strong, democratic State that is capable of contributing to Maghreb integration and achieve the aspirations of peoples in the five Maghreb countries for union and development. Bouaida underlined the need to respect Libya’s territorial unity and national sovereignty and emphasized the importance of adopting dialogue between the Libyan actors as a means to settle political differences and promote understanding over the new constitution which guarantees the building of State institutions and protects its resources.She noted that division and deterioration of the security situation as well as the worsening of violence in Libya threaten democratic transition and might drag the country into violence that will impact its Maghreb, Mediterranean and African environment.The Conference is attended by UNSG representative for Libya, representatives of Euro-Mediterranean Countries Group “Med 7”, of “5+5 Forum” and the Group of neighboring countries. It is also attended by representatives of Tunisia, Mauritania, Algeria, Egypt, Niger, Chad, Sudan, France, Cyprus, Portugal, Italy, Greece, Malta, the EU, the Union for the Mediterranean (UpM), the Arab League and the UN.
The Finance Ministry said that the Loan to Value Ratio (LTV) for Hybrid vehicles will also be revised from 70:30 to 50:50 basis.Importers of all vehicles other than buses, lorries and ambulances will have to keep a 200 percent cash margin at the time of opening of the LCs Other steps taken to ease the pressure on the Rupee includes a six month suspension of the importation of vehicles using the concessionary permits issued to entitled State Sector employees. No Letters of Credits will be permitted to be opened based on these permits during this period. The importation of vehicles for Government Ministries, Departments, Statutory Boards, State owned enterprises will also be suspended until further notice. Further, the requirement of 100 percent cash margin has been imposed for the import of Refrigerators, Air Conditioners, Televisions, Perfumes, Telephones including Mobile phones, washing machines, footwear and tyresHowever, though these measures will be effective temporarily from Saturday 29, 2018. the Government says it will continuously monitor the exchange rate fluctuations and will take appropriate action accordingly. The Government has decided to suspend the issuing of vehicle permits to Members of Parliament for a period of one year.The Finance Ministry said the decision was taken as part of the temporary measures put in place to ease the pressure on the Sri Lankan Rupee with effect from midnight today.