Washington: As part of efforts to tighten the noose around Muammar Gaddafi’s regime, the US has slapped sanctions against nine Libyan entities, including a Karachi-based company which is jointly owned by the governments of Libya and Pakistan.
The US Treasury Department yesterday said that it had targetted three foreign Libyan-owned banks and identified six additional companies, including four foreign firms, subject to sanctions.
The four foreign companies include Ghana Libya Arab Holding Co and its tourist subsidiary Glahco Hotels and Tourism Development Co; a Pakistan fund, Pak-Libya Holding Co; and a Norwegian chemical company, Libyan Norwegian Fertiliser Co.
Pak-Libya Holding Company is a Pakistan-based entity that is 50 per cent owned by Libyan Arab Foreign Investment Company (LAFICO), a subsidiary of the Libyan Investment Authority (LIA).
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