Prime Minister John Key says Genesis Energy will be the last State Owned Enterprise to be partially sold by the government.
Asked why he had decided to end the sales programme if it was so successful, Mr Key said a company had to have the “right characteristics” to be part of the mixed ownership model. A company like Kordia did not fit as it was too small in value and a monopoly, like Transpower, did not fit the model.
The only other two which could be sold were Television New Zealand and New Zealand Post and neither was fit for sale.
Companies which aren’t fit for sale aren’t assets they’re liabilities.
Yet opponents of even partial sales are still clinging to the view that state owned companies are sacrosanct and that the portfolio should remain exactly as it is in perpetuity.