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 2011-03-24 11:33 pm Back to NEWS
Govt still studying ‘bulky’ UN resolution on Libya — Pande
Kabinga Pande

A senior government official says Zambia will comply with UN resolutions to freeze Libyan funds and assets linked to individuals and entities in Muammar Gaddafi’s inner circle in line with the Security Council resolution.

The United Nations Security Council has imposed a freeze on assets and funds owned by the Libyan authorities under dictator Gaddafi, and reaffirmed that such assets should be used for the benefit of the Libyan people.

LAP Green, which bought three quarters of Zamtel last year in a controversial deal criticised by key stakeholders is the investment arm of the Libyan government under Gaddafi who the international community wanted to economically incapacitate owing to his atrocities towards the ordinary Libyans pushing a popular revolution against his 42 year-old tyrannical rule.

Stating the government’s position on the matter, foreign affairs minister Kabinga Pande said Zambia was still studying the “bulky” UN Security Council Resolution 1973 on Libya.

“Zambia is a member of the UN and we are party to the resolution of the UN,” Pande said in an interview. “However, we need to, as a government...we are studying the implications of the resolutions because it is quite bulky. So, we are looking at this to see how it will affect, if they are any, companies or organisations in Zambia that would be affected by that UN resolution.”

Pande said a study by the government might reveal that there were many other Libyan investments in the country that could be a target of the asset and funds freeze apart from LAP Green which controversially bought the country’s sole fixed line operator at US$257 million.

“We have sent the resolution to relevant government authorities and we want this study to be done as quickly as possible because as government, there are many things we are looking at...as some of the assets might be in private hands, or those which we are not aware of,” said Pande without giving the timeframe of the study.

A fortnight ago, the UN Security Council resolved that member states freeze Libya's assets.

South Africa was the first country on the continent to implement the resolution on asset sanctions on Gaddafi and his close aides, ratcheting up pressure on him to quit and halt further bloodshed in a popular revolt against his rule.

Libyan Investment Authority (LAP Green Network) is a component of the Libya - Africa Investment Portfolio, which is part of the Libyan Investment Authority, the sovereign wealth fund for Libya.





 
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