Greens blast Sheshinski 2

Israel Chemicals
Israel Chemicals

There are calls for the Knesset to investigate the management of Israels natural resources.

Environmental group Adam Teva V'Din (Israel Union for Environmental Defense) and the Movement for Quality Government in Israel criticized the Sheshinski 2 Committees final recommendations today, claiming they are lenient towards Israel Chemicals Ltd. (TASE: ICL). Both organizations called upon Knesset members to join the initiative, led by Knesset Social-Environmental Lobby Chair Dov Khenin, to work to establish a parliamentary committee of inquiry to discuss the governments abdication of its responsibility for Israeli natural resources.

According to the two organizations, the Sheshinski Committee granted excessive leniencies to Israel Chemicals, and violated its role. The committee transgressed twice: the first time was when it focused only on the fiscal aspects of the natural resources, and did not examine the overarching resource management policy, and the second was when it again ceded to pressure applied by Israel Chemicals, which is responsible for a large part of the vast damage that has been caused to the Dead Sea in recent years, said Adam Teva V'Din Executive Director Adv. Amit Bracha.

According to MP Khenin, Today, it was again proven that there is no way other than to conduct an in-depth, broad investigation of the outrageous surrender of Israeli natural resources to the hands of tycoons. Israel Chemicals pressure succeeded in further softening the Sheshinski 2 Committees conclusions, and instead of a sharp rise in the low royalties to be paid on our natural resources, there is a reduction in the royalties to a real rate of less than 5%, through an easing and reduction of the surtax, which is intended to replace the royalties, and opens the door to tax planning, he said.

Khenin says he intends to bring his demand for a parliamentary committee of inquiry to discuss issues that were not examined by the Sheshinski 2 Committee before the Knesset for a vote.

Published by Globes [online], Israel business news - www.globes-online.com - on October 20, 2014

Copyright of Globes Publisher Itonut (1983) Ltd. 2014

 
Israel Chemicals
Israel Chemicals
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