Finance Committee Approves NIS 13 Million Loan for Cellcom Ahead of Elections
Translated & summarized from TheMarker by baba
The Knesset Finance Committee unanimously approved a NIS 13 million state loan for Cellcom's operations just days before the elections. Committee Chairman MK Hanoch Milavsky, who had previously criticized the move as wasting public funds, relented after demanding more information. MK Pindrus called for future oversight of the Capital Markets Authority.
The story in 5 lines · by baba
- The Knesset Finance Committee approved a NIS 13 million loan for Cellcom's operations.
- The approval came less than a week before the Israeli general elections.
- Committee Chairman MK Hanoch Milavsky had previously opposed the loan.
- MK Milavsky described the loan as "throwing public money into the trash."
- The loan was approved unanimously after further details were provided.
Less than a week before the general elections, the Knesset Finance Committee unanimously approved a NIS 13 million state loan for the authorized management of the struggling company Cellcom. The loan is intended to support the company's ongoing operations.
Despite previous objections and criticism from the committee's chairman, MK Hanoch Milavsky, who had repeatedly questioned the operational mechanism of the company and stated that approving the loan would be akin to "throwing public money into the trash," the committee ultimately gave its full approval. Milavsky had previously demanded additional details from the Capital Markets Authority, the authorized receiver of Cellcom, Efi Sandrov, and the Budget Department of the Ministry of Finance during four prior discussions.
MK Pindrus expressed hope that a future finance minister would bring order to the Capital Markets Authority.