The Ministry of Finance and the Ministry of Communications, the Authorities Firms Authority, the administration of Israel Postal Firm (Israel Submit), and representatives of Israel Submit employees, have agreed on the ideas of a restoration plan and the privatization of the corporate.
The restoration plan contains downsizing and chopping wage prices, an accelerated transition to digital companies, excessive precedence for parcels assortment, a particular service for aged individuals missing digital expertise, geographical redistribution of postal companies, and competitors within the postal market.
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The state will lend Israel Submit NIS 1.7 billion, whereas the corporate will undertake to promote property to the tune of NIS 450 million.
Between 1,500 and a couple of,000 of Israel Submit’s 5,000 staff will go away, with a state assure for his or her severance pay.
The query of promoting actual property property of the corporate is a fancy one, as the actual property makes the corporate extra enticing to buyers. The federal government argues nevertheless that the corporate wants a strategic investor in a position to run it effectively, and never somebody trying to make a killing on its actual property. The state is subsequently prepared to take the chance upon itself, even on the expense of the proceeds from the deliberate fairness providing and the privatization course of being decrease due to the sale of actual property property.
Printed by Globes, Israel enterprise information – en.globes.co.il – on April 7, 2022.
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