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Sharef Appointment As Finance Minister Approved; He Now Holds 2 Portfolios

The Cabinet today officially approved the appointment of Zeev Sharef, Minister of Commerce and Industry, to the post of Finance Minister which was vacated yesterday by Pinhas Saphir. Mr. Sharef will hold both portfolios and Mr. Saphir, who was elected secretary-general of the Labor Party, will remain in the Cabinet as a Minister Without Portfolio. The Cabinet also approved the re-appointment of Dr. Zvi Dinstein as Deputy Minister of Finance. Dr. Dinstein served in that capacity under Mr. Saphir and will continue under Mr. Sharef.

Foreign Minister Abba Eban reported at the Cabinet meeting today on continuing efforts to secure the release of the Israeli jet airliner which has been held by Algeria since it was hijacked by Arab terrorists on July 23. He also reported on the dispute with United Nations Secretary-General U Thant who blamed Israel last Friday for allegedly blocking the appointment of a special envoy to investigate the condition of refugees in the aftermath of the June, 1967 Arab-Israel war. Israel has stated its readiness to cooperate with the inquiry but insists that the UN emissary include the Jews in the Arab countries in his survey.

The Minister of Posts, Israel Yeshayahu, told the Cabinet that the Israel-France Mediterranean cable which will connect Israel directly with the principal communications centers of Europe is nearing completion. The cable will provide Israel with many channels for international telephone, telegraph and teleprinter communications.

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