The High Court granted the request of the Manufacturers Association and ordered a delay in providing the information on profitability data to the Ministry of Economy. Earlier today (Thursday), the Manufacturers Association petitioned the High Court of Justice on behalf of the food companies, demanding the cancellation of the request to provide prices that they issued about a month ago at the Ministry of Economy.
Economy Minister Nir Barkat responded to the interim decision on the matter, saying that "the monopolies are afraid that the public will find out who is exploiting it. I am certain that even the justices of the High Court of Justice, who are familiar with the cost of living in Israel, will not allow them to continue to hide the turn they are making on the public."
GPO
Barkat added: "We are working for transparency. For decades, the Israeli market has suffered from deep failures, monopolism and lack of competition. The measures I am leading against monopolies are intended to correct the market and introduce competition that will lower prices."
"Exploited deep market failures to accumulate excessive profits"
"The fact that the monopolies invest millions of shekels on lawyers and legal proceedings and threaten me that they will invest millions in a personal campaign against me shows that they are under pressure and have something to hide," Barkat said. "They don't scare me. I inform them that the celebration on the back of the public is over. I am determined to fight monopolies that took advantage of the deep failures in the market in order to accumulate excessive profits at the expense of the people of Israel, who are groaning under the economic burden and the cost of living, one of the most difficult in the world."
In conclusion, the minister said: "We will continue to fight with all the tools at our disposal for correcting market failures and for real competition that will lower prices and allow the people of Israel to live with dignity in its land."
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