Israel: government notifies Nesher on price cut

The government of Israel has notified Nesher Cement Enterprises Ltd that it must cut prices due to lower-priced inputs, local press have reported.

Following a drop in the prices of raw materials for making cement, mainly oil prices, the Ministers of Finance and the Economy notified Nesher Israel Cement Enterprises Ltd of a 5.35 per cent cut in the price of cement. The revision was according to a procedure stipulated in the arrangement with Nesher signed in September 2014.

The Ministry of Finance stated, "The cut in cement prices will contribute to a fall in the prices of inputs in the construction and infrastructure sectors, and we hope that it will be passed on throughout the entire economy." (Source: Globes Israel Business Arena).