Yet another SOE selloff stuff-up

Responses to questions about the sell-off of Mighty River Power show SOE Minister Tony Ryall has either cancelled plans to sell the company or has provided another notch on the shambles stick of the SOE selloff, Labour’s State Owned Enterprises spokesperson Clayton Cosgrove says.

“Everyone knows the Government’s asset sales programme has been a shambles from the get-go. It’s become so complicated even Tony Ryall doesn’t know what he’s selling.

“Asked in written parliamentary questions where preparations for the sale were at, what formal directions he had given regarding any preparation for its partial sale, and what advice he had received in August about the potential sale, Mr Ryall repeated the line that ‘this company is not being considered for sale’.

“If that’s the case, then perhaps he should tell the New Zealand public, the vast majority of whom don’t want their assets sold in the first place.

“If it’s not, then Mr Ryall needs to explain his answers.

“Mighty River Power was supposed to be the fall guy – the first off the rank – with a share float planned for the third quarter of this year.

“That was sunk with the water rights controversy and the sale delayed until March 2013, while the Government ‘consulted’ with iwi.

“Yet again the minister has demonstrated his and his Government’s incompetence. Or has it all got too hard and has he just given up?”