In another step to liberalize Israel’s economy, Minister of Commerce and Industry Pinhas Sapir announced today that the government will no longer engage in the food import field, and will leave this field to private enterprise.
In order to avoid competition, and to facilitate purchases of United States surplus food, a new joint food import company is being formed by Israel’s major importing firms, with the government holding 10 percent of the shares in the new company.
Until now, Mr. Sapir said, the Government has spent about 80, 000, 000 pounds annually on food stockpiling.
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