BREAKING NEWS

Simhon: If prices don't drop, might open market to imports

By JPOST.COM STAFF

JUNE 16, 2011 16:58

Industry Trade and Labor Minister Shalom Simhon said that despite his desire to protect local industries, if price increases do not stop, he will allow the Ministry to allow imports in order to lower prices, the Ministry said in a press release Thursday.

The Industry Trade and Labor Ministry is responsible for the issuance of import licenses. If the market is not behaving competitively enough and prices continue to rise, there are serious measures that can be taken, the statement said.

"First and foremost, our priority is the consumer," Simhon said. "Deregulation assumes that the competitive free market benefits the consumer, but if prices rise, a return to regulation and opening imports must be considered."

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