BREAKING NEWS

Israeli, PA finance ministries renew ties

JULY 2, 2013 23:11

The Israel and Palestinian finance ministries reaffirmed their professional-level cooperation on Tuesday, in accordance with an agreement struck between Finance Minister Yair Lapid and his Palestinian counterpart Shukri Bishara in June.

In the meetings, senior staff decided to establish joint working teams that will meet every two weeks on issues requiring joint cooperation and confidence-building measures.

The high-level staff will reconvene in a month to check progress and resolve any disputes.

One such dispute may have already reared its head: the Israel Electric Company said Tuesday that the Palestinian Authority and the East Jerusalem Electricity Company owe it a combined NIS 900 million (about NIS 600m. from the company, NIS 300m. from the PA). The Knesset Economic Affairs Committee approved a measure allowing the IEC to extend the expired licenses to the east Jerusalem company, which also supplies parts of the PA, until 2014.

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