The General Department of Financial Affairs of the National Oil Corporation discussed, in a meeting today, Monday, with members of the management committees for financial and administrative affairs and directors of the financial department of the sector companies at the Corporation’s headquarters in Tripoli, the approved draft budget for the Corporation for the year 2022.
During this meeting, the attendees reviewed a number of financial issues related to the implementation of the budget for the fiscal year 2022, most notably the budget and disbursement tabs through the approved items listed in each approval decision, and the development of a mechanism to rationalize spending in line with the priorities of the institution.
They also discussed the mechanism of work of the financial departments of the corporation’s subsidiaries and the identification of responsibilities for disposing of the funds that will be mobilized by the government to implement the budget in line with good governance and transparency, in addition to the need to refer expenditure reports in a timely manner to the relevant departments of the corporation.