Friday 9 December 2016

Sales won't begin until next year at the earliest

Fiach Kelly

Published 23/02/2012 | 05:00

THE first state assets being sold by the Government won't be on the market until next year at the earliest, since a year's preparation has to be done first.

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Public Reform Minster Brendan Howlin says the next step will be consulting unions, and this will be completed by the end of March.

Running alongside this will be an analysis of the suitability of assets to be sold, with assistance from the NewEra body, which was set up to advise the Government on sales.

The analysis will identify the "policy, regulatory, legislative, corporate governance and financial issues that may need to be addressed".

Preliminary valuations and analysis have already been carried out by Barclays Capital, and NewEra may hire more consultants.

By the end of June, the Government says it will be able to outline the reforms needed.

By the end of September, a progress report is to be made to the EU-IMF-ECB bailout team.

The troika wants all preparatory work done by the end of the year.

Irish Independent

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