Israel’s new Minister of Trade and Industry, Yaacov Geri, has expressed confidence in Israel’s ability to pull through its present trying period. Receiving a delegation of South African Jewish newspapermen, Mr. Geri–a South African Jew himself–outlined his policy and spiked a number of false reports and rumors dealing with economic practices in Israel.
Mr. Geri recalled the history of his Ministry, which was first formed as part of the Provisional Government but discontinued in the permanent Cabinet when the General Zionist Party for which it had been reserved refused to enter the coalition. He said that many of its functions had been absorbed by the Ministry of Supply and Rationing which has been discontinued since the recent Cabinet shuffle.
He said the reason for discontinuing the Supply Ministry was that the emphagis in the earlier period was on restrictions needed to save the country’s economy, but that now the emphasis is on expansion. He revealed that the rationing functions of that Ministry had been divided between the Ministry of Agriculture, which was made responsible for food rationing, and his Ministry–which controls the rationing of clothing and building supplies, among others.
Continuing his statement of policy, the Minister asserted that the government encouraged all investments which would help Israel. This means, he explained, investments which would earn hard currencies by creating exportable goods, and investments which will save hard currency by producing goods locally which must now be imported.
In response to specific questions, Mr. Geri denied that the government plans nationalization of industry, stating that in its present situation a nationalization program would be “nothing short of economic suicide.” He said that reports that private industry is under pressure to enter into partnership arrangements with cooperatives are fallacious, stressing that while some private industries have made such arrangements they did so without any pressure from the government. “The policy of my Ministry is absolute equality among all citizens in matters of trade and industry,” he emphasized.
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