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Prepared by Ann-Margret Westin.
The General Federation of Hebrew Workers.
The majority of the companies privatized during this period were subsidiaries of government-controlled companies in the industry, trade, and chemicals sectors. In fact, while the number of government companies has declined from 147 since 1991 only eleven parent companies have been completely privatized during this period.
The managerial control of the banks did, however, remain with the original management.
The limits on banks’ nonfinancial holdings imposed by the Brodet Committee also apply to investments in insurance companies.
Approximately 95 percent of all pension funds are invested in guaranteed-rate government bonds, which between 1992 and 1994 paid an average annual above-market return of around 2.5 percent.
As only 10-20 percent of a typical company’s capitalization is available for trading at the TASE, with the remaining shares being held by the principals, interested parties, or long-term institutional investors, even limited transactions can have significant effects on stock prices.
Tariffs on most products, except for tariffs on certain remaining steel products (which will be lowered by September next year) and tariffs on textiles and clothing (which will be reduced by September 2000) will be lowered by September 1998.
This includes a ban on imports of non-kosher meat introduced at the end of 1994.
In addition, Israel charges importers 1.5 percent of the c.i.f value of imports for the use of Israeli ports and stevedores.
Land allocated to the Kibbutzim is, for example, leased on 3-year contracts within a 49-year framework.
The Kibbutzim and Moshavim were initially offered “generous” contracts to promote the planning and developing of residential land. However, due to a mixture of lack of interest and internal disputes, there was only limited progress, inducing the ILA to make use of its legal right to confiscate the land.
Mortgages are available for such lease installments.