Yesterday, Libya’s National Oil Corporation announced that it has implemented austerity measures due to the continued illegal shut down of facilities.
The corporation is yet to receive its 2020 budget after more than 70 days of the new year which will force it and its subsidies to cut all non-essential expenses.
This includes freezing or postponing some contracts, stopping most overtime pay, reduction of some services and other measures.
“This was not an easy decision, but the lack of revenue caused by blockading facilities means that we will have to reduce our costs. We call on those responsible for the closure to immediately lift the imposed blockade and spare oil sector workers and citizens from more suffering. We also call on the rest of the state’s bodies to maintain the remaining reserves and reduce their expenses as well,” said NOC Chairman Mustafa Sanalla.
“I would like to reassure all workers in the sector that their situation is stable as their basic salaries will continue to be paid. I want to ask them to stay strong and united during these difficult times.” He added.