STATE SUBSIDY ON GAS
Minister Announces Continuation
(New Zealand Press Association) WELLINGTON, March 10.
The Government subsidy received by gas producers on gas sales will be continued at the rate of 2/- for each 1000 cu.ft. of gas sold, for a period of six months to September 30 next. This was announced today by the Minister of Finance (Mr Nordmeyer).
The Minister said that applications would continue to be received from gas undertakings for special assistance, by way of loans or grants to cover losses in any one year, to the smaller gas producers which were in financial difficulties. The purpose of that assistance was to keep the plants in operation and so reduce the demand for electricity. Such applications should be directed to the Minister of Industries and Commerce, who would consult the Minister of Finance. Mr Nordmeyer added that approval had been given to extension of the interest and principal repayment free period of loans for capital works to certain gas undertakings for a further three-year period from the dates of present expiry.
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Press, Volume XCVII, Issue 28532, 11 March 1958, Page 14
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175STATE SUBSIDY ON GAS Press, Volume XCVII, Issue 28532, 11 March 1958, Page 14
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