BREAKING NEWS

Israel pays PA electricity debts with withheld taxes

DECEMBER 12, 2012 21:10

Finance Minister Yuval Steinitz completed the transfer of NIS 435 million worth of Palestinian financial forfeiture to the Israel Electric Corporation on Wednesday morning, the ministry announced later that day.

The Palestinian Authority has already accumulated hundreds of millions of shekels in debt that it owes to the IEC, the Finance Ministry stressed.

While during past political crises the Israeli government has simply decided to delay the transfer of funds to the PA, this time, in the background of the PA’s unilateral request for UN status, Steinitz and Prime Minister Binyamin Netanyahu decided to transfer the Palestinian assets directly to the IEC, the ministry said.

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