Maeve Dineen: €3bn target for state-asset sales appears hopelessly optimistic
WITH most of the best bits deliberately excluded, government hopes of raising €3bn from the sale of state-owned assets look hopelessly optimistic.
Last Wednesday Public Expenditure and Reform Minister Brendan Howlin announced plans to raise up to €3bn by selling a number of assets. The sales were one of the conditions of the November 2010 EU/IMF bailout.
The announcement, perhaps deliberately so, was extremely brief and very short on detail. The lack of financial numbers was mainly due to the fact that the Government does not want to give potential buyers commercially sensitive information on the price at which it might sell. Regardless, it's very difficult to see how we will reach €3bn.