The Knesset's Finance Committee approved a NIS 150 million (about $37.9 million) loan for the Israel Military Industries .
The loan was approved so to allow IMI to reschedule its debt payments and settle a wage dispute .
The loan was approved following a special committee hearing.
IMI ,which has been plagued by a labor dispute over its future privatization plans agreed to seek mediation to resolve the last issues remaining vis-à-vis its employees.
IMI also agreed to submit a reform plan for the committee's review by August 15. The industries will have to cutback on personnel by 30% - measures the Treasury insisted upon in order to allot the funds.