Gov't to pay NIS 33m to Agrexco employees

The economic-social cabinet, chaired by Minister of Finance Yuval Steinitz, yesterday approved the transfer of NIS 33 million to the Agrexco trustee account for the payment of enhanced compensation to the company's 350 employees. The company went into liquidation proceedings six months ago.

The government is also due to transfer an additional NIS 6 million, if the National Insurance Institute does not recognize its commitment to transfer compensation to the employees pursuant to the liquidation arrangements.

The economic-social cabinet's decision follows a deal between Histadrut chairman Ofer Eini and Accountant General Michal Abadi-Boiangiu.

Published by Globes [online], Israel business news - www.globes-online.com - on January 3, 2012

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