The Presidency Council of the Libyan National Agreement Government based in Tripoli has appointed Muhammad Ali Al Huwayj as economic advisor to the Prime Minister. This was reported in a press release by the Presidency Council, led by Fayez al Sarraj, published on the official Facebook page. As part of the new appointments, Mohamed Mohamed Sumaida will be the new coordinator for economic affairs of the prime minister. Al Huwayj held for a period the position of secretary for finance within the General People's Congress, the legislative body of Libya from 1977 to 2011, the era of the Socialist Republic of Colonel Muammar Gaddafi. In the past he was the head of the Libyan Arab Foreign Investment Company (Lafico). The Libyan Arab Foreign Investment Company was a Libyan state investment bank active from 1982 to 2006 and was based in Tripoli; since 2006 it has been replaced by the Libyan Investment Authority. Both institutions were controlled by the Libyan government and also by the Gaddafi family.