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Bashagha asks NOC Chairman to forward his proposals regarding the mechanisms necessary to preserve and maintain revenues generated from oil.

Pulbished on:

Benghazi, 28 April, 2022 (Lana) - Head of Libyan government appointed by House of Representatives, Fatehi Bashagha, urgently requested Chairman of the Board of Directors of the National Oil Corporation, Mustafa Sanalla to refer his proposals regarding the mechanisms necessary to preserve and maintain funds generated from oil revenues.

This came in a message addressed to Sanallah and published by the Government Information Office yesterday evening, , on its Facebook page.

 In his letter, Bashaga said that his request comes within the framework of the Libyan government's efforts to end the crisis of suspending oil production and exports, and this matter has seriously harmed the financial position of the Libyan state, as well as the infrastructure of the oil sector, indicating that his government has made urgent and extensive contacts with many parties, visiting the Oil Crescent region and listening to the demands of the protesters who expressed their objection to the mechanisms for disposing of funds resulting from oil revenues and the lack of transparency and the distribution, employment and management of those funds without any legal basis in expenditures.

He noted that the National Oil Corporation, being the body responsible for the production and export of oil and the collection of its revenues, requires agreement on specific and disciplined mechanisms to ensure that oil revenues are kept in the accounts of the National Oil Corporation and not referred until the issuance of the budget law by the House of Representatives, stressing the need to ensure the continuation of the payment of salaries and

the like, as well as the continuation of spending on Chapter Four in order to preserve the interest of the citizens.

Bashagha affirmed his government's relentless efforts to resume oil production and export, and its full readiness to complete all necessary procedures to ensure the adoption of mechanisms related to the preservation and maintenance of oil revenues and to ensure their good management and non- political exploitation.

=Lana=