Government allocates more than 11 Million dinars from emergency clause to pay salaries of workers in faltering companies across Libya.

Tripoli The Government of National Unity has allocated more than 11 million dinars from the emergency clause, to pay the salaries of employees of faltering companies across Libya.

The General Authority for Investment Promotion and Privatization Affairs has received a financial transfer of LYD 11,955,823,000, being responsible for supervision and follow up of these troubled companies, and whose target is either privatization, or to search for local or foreign investors to operate or develop them.

The authority liquidated the salaries of the employees of these companies, which numbered 18, and the number of workers who received their salaries was (2466) workers and employees.

The authority also coordinated with the Cabinet to obtain another financial value to be allocated to troubled companies that are not affiliated with the authority in terms of supervision or management.

The authority explained that it has prepared an integrated investment plan for re-evaluating of these companies through specialized international consulting firms, in accordance with the plan (return to life) adopted by the government of national unity, to restore stability and activate the national economy.

Source: Libyan news Agency