The battle between the Ministry of Economy and the large companies in the food market is moving to the High Court of Justice: The Manufacturers Association filed a petition with the High Court of Justice today against the demand of the Price Supervisor at the Ministry of Economy to disclose their financial statements, claiming that it is illegal. In the petition, the court was required to issue an interim injunction against the demand.
The struggle began about a month ago, when, in a precedent-setting move, the price supervisor demanded that the 15 largest companies in the food market disclose their financial statements, detail production costs and disclose their profit figures within 21 days.
"We are doing something here that has not been done in Israel": Netanyahu at the Ministerial Committee to Combat the Cost of Living // Photo: Omer Meron/GPO
Now the Manufacturers Association has petitioned the High Court of Justice against the Supervisor's demand, asking the court to hold an emergency hearing on the matter and issue an interim injunction against his demand. "The demand of the price supervisor lacks any legal basis and must be rejected," the petition states. It added that the Manufacturers Association called on the supervisor to retract his decision and "hold a professional and substantive dialogue on the issue without any delay."
Manufacturers Association President Dr. Ron Tomer said, "Beyond the illegality of the move, it is incompatible with the existence of a free market and a modern and competitive economy. History and reality prove that such attempts often lead to economic ruin rather than lower prices. I call on my friends in the government to come to their senses and sit down for a joint discussion in order to bring about real solutions to the root problems of the Israeli economy."
Food prices are soaring, will the Economy Ministry's move stop them?, Photo: Getty Images
The companies from which the Supervisor demanded that their financial statements be forwarded to him are Diplomat, Unilever, Osem, Shestowitz, Sugat, Hogla Kimberly, the Central Beverage Company, Strauss, Willy Food, Sano, Jafora Tabori, Vysotsky Tea, Neto Trade, Abbott and Guri.
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