Misrata-based Iron and Steel Factory has linked the raise in its products’ prices to the increase of their cost, which it said is tied to the decrease of production at the factory following pressure to cut down its use of electricity and natural gas.
The media official at the factory, Mohammed Al-Khamariya, said they are coordinating with the control center at the General Electricity Company on a daily basis to make the factory work with total power that does not exceed 25% of its full power capacity, adding that the factory was burdened with tiring expenses as well.
“Until today, we’re still paying workers who have gone to fight for the liberation of Sirte from IS and those are 700, not to mention those who are on checkpoints as well as the workers who were killed and injured during 2011 revolution.” He media official indicated.
He added that one of the reasons that the prices went up is protecting the local products, which are oftentimes sold in the neighboring countries, as smugglers usually sell Libya’s iron and steel to the neighboring countries to take the edge of the low rates of the Libyan dinar.
Iron and Steel Factory is a financially independent venture and is responsible for its products and revenue to provide for its 30 million dinars of monthly expenditure, according to Al-Khamariya.
