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      Archive: 6/17/2013
      13:35
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      News Brief

        6/17/2013, Tammuz 9, 5773

      New C'tee for Regulating Natural-Resource Royalties


      Finance Minister Yair Lapid announced, Monday, the formation of a committee to examine the royalties the state will receive from private concerns who exploit the country's natural resources. The panel has been dubbed "Sheshinski Committee II" after its chairman, Professor Eitan Sheshinski, who chaired a committee that studied royalties for oil and natural gas. Similarly, the new committee will include senior members of various government offices.

      The goal of the committee is to ensure that funds (taxes, royalties and other payments) received by the state reflect what is due the public from resources other than oil and natural gas. An example of this is the mining of minerals from the Dead Sea and the possibility of the Dead Sea Works with a foreign company.