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Participants in Union Meeting Agree on 3 Loafs for 1 Dinar Formula.

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Tripoli, 18 January 2021(Lana) Participants in the joint union meeting held at the Chamber of Commerce and Industry in Tripoli on Monday have agreed on determining bread prices at one dinar for three loafs formula, to be valid until an agreement has been reached with the competent authorities on setting a price for one kantar '100 kilos' of flour. The meeting, which brought together Chairman of the Chamber of Commerce and Industry Mohamed Gaddah, Head of General Syndicate of Bakeries Mohamed Abu Khais and Member of General Union of Professional Syndicates Lutfi Hdeida, has reached an agreement by virtue of which the crisis committee of the Chamber of Commerce liaise with the concerning bodies, to settle the issue so that bakeries can resume their activities by selling bread 3 loafs for one dinar until bread material and other needs can be provided by prices applicable before the beginning of the crisis. The Chairman of the Board of the Chamber of Commerce and Industry dismissed media reports that closure of bakeries was the result of incitement by the syndicates, stressing that full coordination was in place between all those involved with the bread issue; including the Ministry of Economy, the Ministry of Finance, the Central Bank of Libya, and the General Syndicate of Bakeries, to find a solution to the rising bread prices. On his part, the Head of the General Syndicate of Bakeries said the syndicate has called, since the outset of the flour crisis, on bakers in the Municipalities to continue to work with the loaf prices formula set by the Ministry of Economy in the last months pending a decision to set the exchange rate which will inevitably affect prices in general. Abu Khrais noted, in a statement to Lana following the meeting that 'for years the flour prices have been ranging between LD 130-150 for a kantar '100 kilos' of flour, both at the Flour Mill Company, or on the black market, and that the sudden bread price hikes were caused by an increase of flour prices to DL 210 a kantar '100 kilos.' =Lana=