The New Zealand government is rushing through the sale of Meridian Energy for NZ$1 billion less than the $3.1 billion needed to reach its goal of raising at least $5 billion from asset sales.
It is moving ahead wit the sale widespread public opposition and criticism ranging from opposition parties to investment bankers.
Meridian Energy Limited, a state-owned electricity generator and retailer, is expected to divest 49% of its shares as part of a government privatisation program.
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A leaked submission prepared by a New Zealand government department raising serious concerns about the risk of water pollution to a Hawke’s Bay river has been suppressed by the government, the New Zealand Labour Party and the Greens Party said. The Department of Conservation prepared a draft 32-page submission on the proposed Ruataniwha Dam. It said the plan poses threats to water quality, habitats and fish species and that reversing damage caused by the proposal would present real problems.
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Trade unions, environmental and Maori groups have united to oppose passage of new laws threatening collective bargaining and basic rights in the workplace. The Employment Relations Amendment Bill, introduced by the government in April, seeks to remove existing requirements for employers to negotiate collective agreements, and rest and meal break provisions.
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New Zealand celebrities have joined protests against proposed law changes that will remove the right of public consultation on applications for deep sea oil and gas drilling. Law changes will also remove the right to protest at sea. Actors Sam Neill, Lucy Lawless and Robyn Malcolm, former Supreme Court judge Sir Ted Thomas and many others have joined Maori and environmental groups to condemn the government’s plans.
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A law has been passed giving New Zealand’s intelligence agencies greater powers — despite widespread opposition from human rights groups, private companies and the public. The newly enacted Government Communications Security Bureau (GCSB) Bill authorises the gathering of private communications of citizens, including text messages, emails and bank account details without the need for a search warrant.