Israel orders 15 food giants to release financial records on price hikes

Finance


Economy Minister Nir Barkat took the unprecedented step on Sunday to require 15 large food companies to disclose their financial statements, including a breakdown of their production costs and profits, within 21 days.

Economics Department Chief Pricing Director Dr Jonathan Bezalel has sent a letter to the largest manufacturers and importers requesting comprehensive data on production costs, including asking them to provide financial and pricing reports. rice field.

This letter was sent in accordance with Chapters 7, 6 and 31 of the Law on Price and Product Supervision. The law deals with cost and profit investigations for major manufacturers and requires importers and manufacturers to provide detailed breakdowns. We will pay the production cost and profit within 21 days.

The 15 companies required to submit their reports within 21 days are Diplomat, Ocem, Shastowitz, Sogat, Hogla Kimberly The Central Bottling Company, Strauss, Willie Foods, Sano and Jafora Tabori. , Wisotsky Tea, Net Trade, Abbott and The Gori Company.

Barkat said: “We will fight an uncompromising war against the monopolies and cartels that unjustly oppress the people. Use the means to act, no matter how serious, to combat the serious failure of Israel’s food market.

“We can clearly see that producers and importers are using a high degree of centralization and lack of competition in the market to drive up prices. We will not hesitate to use this kind of mechanism to fight the group: the Israeli people are groaning, the monopolies are raising prices at an alarming rate, and the prices of raw materials and sea freight continue to fall. At this time of year, the celebration is over.”

Nil Barkat (Credit: RONEN TOPELBERG)

Government ‘most predatory monopoly’ in Israel – Manufacturers Association

In response, the Israeli Manufacturers Association released a statement saying, “Israel’s most predatory monopoly is the Israeli government, making the cost of living and doing business disproportionately high compared to any other government in the world. yes,” he said. It has raised and continues to raise the prices of apartments, cars, fuel, electricity, water, property taxes, etc., which undermines the disposable income of Israeli residents and reduces the prices of Israeli goods and services. Soaring. ”

They continued, “The government monopoly also sets the VAT rate on food among the highest in the world, artificially inflating food prices to collect the tax.

I regret that the economy minister, like many of his predecessors, is trying to distract the public from what he says is the real cause of their suffering. The Israeli people are weary of promises and it is the Israeli government that has deceived them, imposing unfair taxes on cars, fuel, land, apartments, property taxes, food, while I know very well that you are managing the It’s a wasteful use of the national budget, and it’s money out of the pockets of every Israeli citizen. ”

The association also plans to publish a series of comparative results, explaining in their explanation: “In the coming days, we will publish a series of international comparisons of Israel’s government spending relative to the rest of the world, to help the Israeli public understand exactly who is oppressing them.” Damaging the business sector is no longer an easy way to escape the fire of the cost of living protests.Government parties at the expense of the people are over.”

Finance Minister Bezaler Smotrich also announced on Sunday that he would set up a public commission to dismantle monopolies and food giants. “Israelis have the right to receive more and pay less,” Smotrich said.



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