Finance Committee chairman MK Moshe Gafni: We're legitimizing dysfunctional systems.
The Knesset Finance Committee has approved NIS 2 billion in guarantees for Israel Electric Corporation (IEC) (TASE: ELEC.B22). Ministry of Finance director general Doron Cohen told the committee that the guarantees would prevent an electricity rate hike for consumers.
Knesset Finance Committee chairman MK Moshe Gafni (United Torah Judaism) said, "Despite the committee's criticism of IEC's conduct, we have the responsibility of preventing a dramatic rise in prices for consumers, and the government guarantees will prevent this.
Gafni added that the Finance Committee demanded changes and reform. "I will not stay silent any more. This has continued for far too long. We are legitimizing dysfunctional systems, which pay high salaries and give free electricity to employees, and control an empire called IEC. The next government must make changes, and we will work to that end," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2012
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