Asset Sales Decision Delayed Again

February 20, 2013 New Zealand Finance

Stop Asset SalesThe government has once again been delayed in the plan to launch its asset sale program.

The government has decided to await a ruling by the Supreme Court before continue with the current plan of selling off portions of several state owned assets.

The Supreme Court is currently deliberating on whether a judicial review should be held on the sale of the assets, as requested by the Maori Council.

According to John Key, the government would have passed an Order in Council on February 18th to proceed with the sale of the state-owned electricity company Mighty River Power, but the move was delayed as the Supreme Court promised to produce a ruling by the end of this month.

The delay is likely to push back the start of the asset sales, which were originally scheduled to begin in the middle of this year.

Photo by Sweet One