10:28
Reported

News Brief

  3/29/2013, Nisan 18, 5773

Goodwill Gesture Means Israelis Pay PA Electric Bill


Tax funds released to the Palestinian Authority as a goodwill gesture by Prime Minister Binyamin Netanyahu, following last weeks visit of United States President Barack Obama, were supposed to be used to repay the PA's 730-million-shekel debt to the Israel Electric Company, according to a Thursday report by the Globes business publication. No agreement has been reached in talks to settle the debt.

The utility is seeking to record the debt as lost and ask the Electric Authority to recognize the loss as an expense that can be covered by a rate hike of three percent for a year.