Israeli ports reform took effect last Wednesday at midnight. On Thursday, the ports became three separate port companies, and one assets company.
According to port workers' representatives, the parties involved consisting of negotiators from the Ministry of Finance, the Histadrut (General Labor Federation), and the Israel Ports Authority met last week in an attempt to finalize the wording of the port reform agreement.
The reform agreement in the ports includes the following issues:
The port workers committees committed themselves to industrial quiet, concurrent with the signing of a new five-year wage agreement. Workers rights were also assured, including pension terms. NIS 4 billion in pension funds held by the Ports Authority will be distributed among the port companies.
In edition, 2,200 port workers will each receive a NIS 100,000 payment. Every worker will be able to buy shares in the port companies at a 10% discount. The port workers will receive a 20% wage rise. Israel Shipyards will gradually become a private port.
Mr. Dan Tichon, chairman of the newly formed assets company, said at the first meeting of the company's board of directors that history was made by the ports reform which will change Israel's economic landscape.
