24 Feb 2009

Debates on oil plan held in Libya

10:10 am on 24 February 2009

State media in Tripoli say Libya's Basic People Congresses have ended their meetings on a plan put forward by Muammar Gaddafi to disband the government and give the country's oil revenue directly to the people.

Gaddafi says corruption is so deeply entrenched in the government that the only way to cure Libya of graft is to disband the ministries and re-distribute oil revenues.

The outcome of the LBPC debates will be known early next month at the General People's Congress - Libya's equivalent of a national parliament.

Gaddafi supporters control the 468 congresses and the General People's Congress.

Libya has a population of five million. The LBPCs are effectively the top executive and legislative bodies which vote on laws and government policy.

This year's oil revenue is expected to be more than $US30 billion.