Tripoli, Aug 21 (IANS): UN-backed Prime Minister of Libya Fayez Serraj on Friday announced a ceasefire and ending of all hostilities in Libya and called for presidential and parliamentary elections.

"Based on the political and national responsibility, and the current situation in the country and the region, as well as the pandemic situation, President of the Presidential Council of the Government of National Accord issues orders to all its military forces to immediately cease fire and end all hostilities in the Libyan territories," the UN-backed government said in a statement.

"As the President issues announcement of ceasefire, he stresses that the ultimate purpose is to restore the full sovereignty on the Libyan soil and evacuation of foreign mercenaries and forces," the statement said.

The statement also stressed the need to reopen oilfields and ports and resume oil exports, provided that the oil revenues are deposited in the account of the state-owned National Oil Corporation (NOC) at the Libyan Foreign Bank, Xinhua news agency reported.