The Palestinian Authority’s telecommunications company, Paltel, stated that Israel’s military campaign in PA areas has so far cost it $13.5 million in losses. Some $6.5 million of these lost funds was attributed to a direct four percent loss in Paltel’s assets, while the remaining seven million dollars were lost due to a drop in customer activity.
The company also stated that the Israeli Defense Forces (IDF) dismantled 15 percent of the territories’ public telephones and caused damage to another 25 percent during its operations in the West Bank and Gaza Strip.
Established in 1997 with $96 million in capital, Paltel is a public shareholding company. The company was financed by a group of group of Palestinian investors, banks, national companies and institutions and over 8000 citizens. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
