Our source has exclusively obtained a correspondence from the Finance Minister of the Government of National Unity to the Chairman of the National Oil Corporation.
The minister stated that the Ministry of Finance is responsible for preparing the general budget in cooperation with various government entities. It is also responsible for distributing budget allocations and overseeing public expenditure on a monthly and quarterly basis according to the approved allocations, including those for the National Oil Corporation. Salaries for oil sector workers have been transferred up to May 2024 to the Central Bank of Libya according to the available liquidity, which was transferred from your end to the accounts of the Ministry of Finance at the Central Bank of Libya.
The minister emphasized that the Ministry of Finance has transferred all financial allocations to the National Oil Corporation to cover the operational and developmental budget of the oil sector on the scheduled dates, including labor expenses amounting to 1.6 billion dinars, which represent the operational and developmental budget of the oil sector, 1.8 billion dinars for operational expenses, and 1.2 billion dinars for operational spending.
The minister added: “The Corporation must manage its resources efficiently to avoid misallocation and mismanagement of the budgetary allocations designated for the Corporation and its subsidiaries.”