Prof. Sheshinski: If we find distortions in the policies currently practiced, then we will propose ways to amend them.
The Sheshinski 2 Committee headed by Prof. Eytan Sheshinki held its first working meeting today. The committee was established by Finance Minister Yair Lapid to investigate the royalties that the State earns from natural resources including the potash from the Dead Sea and phosphates from the Negev for which Israel Chemicals Ltd. (TASE: ICL) holds the rights. At the meeting the order of work was presented and members of the committee voiced their opinions regarding issues that they will talk about.
The committee will not discuss Israel's oil and gas reserves, which were the subject of the first Sheshinski Committee.
Prof. Sheshinski said, "The Committee today begins its work to check and ascertain that the State receives its share as required for use of its natural resources by private bodies. In the even that we find during our work distortions in the policies currently practiced, then we will propose ways to amend them."
Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2013
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