Israel's Defense Ministry pushing for share of future natural gas royalty fund
The fund is being established to ensure that the large government royalties that the state is expected to collect from license holders at gas and oil exploration sites off-shore benefit the country as a whole.
The Defense Ministry is seeking to add national defense as one of the purposes to which the proceeds from a natural resource royalty fund can be applied. The Ministerial Committee for Legislation will consider a bill on Tuesday that would set up a system of investment targets for the income from the fund, and the Defense Ministry is pushing to become a beneficiary of the fund.
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