Crown forests to be sold
The Forestry Corporation is to act as the Agent for the crown in the disposal of the Crown's commercial forestry holdings, the Minister for State Owned Enterprises, Hon Richard Prebble, said last week. Included in these saies are likely to be Karioi Forest and Erua Forest. Possible buyers for these include Winstone Afforestation, Fletchers and New Zealand Forest Products. "The Government has decided that the Crown's commercial forestry holdings will not be transferred to
the Forestry Corporation, but will be sold directly. The Corporation will be the Crown's agent, with the Government retaining overall responsibility for any saies. The Corporation will not be entitled to be a bidder," said Mr Prebble. "This is one of the most complex of any of the Government's business saies. There are scores of potential bidders, the geographic spread of forests i s enormous, and the trees« range from seedlings to those now mature and ready for harvesting. "As the Forestry Cor-
poration has the experience the Government believes it is appropriate for it to be involved in what will be a challenging exercise. "The overall saies strategy will be agreed at the outset between the Government and the Forestry Corporation. The shareholding Ministers are appointing two officials of the Treasury as Corporation Board members to assist in monitoring the performance of the Corporation during the sale process and to ensure direct lines of accountability to Ministers.
"Questions such as whether forests should be sold outright or whether management and cutting rights be sold and the land retained are some of the matters which have to be worked through. "The Forestry Working Group, appointed by the Government in August, is expected to report shortly on the most appropriate form in which the Crown's commercial forestry holdings should b e disposed of. I shall make announcements on such disposals at an appropriate time", Mr Prebble said.
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Waimarino Bulletin, Volume 6, Issue 259, 18 October 1988, Page 7
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315Crown forests to be sold Waimarino Bulletin, Volume 6, Issue 259, 18 October 1988, Page 7
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