Daily Israel Report
08:50
Reported

News Brief

  6/4/2013, Sivan 26, 5773

No Guarantees to Electric Company Without Recovery Plan


The Knesset Finance Committee is scheduled to meet, Tuesday morning, regarding the government's request to give additional financial guarantees to the Israel Electric Company. The utility has debts of 75 billion shekels, and will have trouble raising funds to finance its operations without the guarantees.

Committee Chairman Nissan Slomiansky announced, Tuesday, that he does not intend to approve the guarantees unless the company's management and the Finance Ministry promise to take immediate concrete steps to activate the company's financial recovery.