(Globes) Amiram Barkat - Israel currently supplies all electricity needs to the West Bank, and the Palestinian Authority currently owes the Israel Electric Corp. (IEC) NIS 730 million ($200 million). In late 2012, former Minister of Finance Steinitz halted the transfer of tax revenues collected by Israel on behalf of the PA in response to the UN General Assembly's recognition of the State of Palestine, and the withheld funds were used to pay, in part, the Palestinians' debt to IEC. However, following President Obama's visit to Israel last week, Prime Minister Netanyahu decided to release the withheld funds as a goodwill gesture to the PA.
2013-03-29 00:00:00Full ArticleBACK Visit the Daily Alert Archive