Port in the red
Lyttelton's container terminal has overspent its income by almost 5200,300 since October 1, 1976. The terminal's deficit of $194,000 is the biggest factor in the Lyttelton Harbour Board's total shortfall of $390,000. The board’s treasurer (Mr J. R Hay) told the board's finance committee yesterday that the main reason for the terminal's disappointing performance had been the delay in becoming fully operational. He said that while the terminal had been idle, the board had faced heavy ex-
penditure in training staff. However the. board’s general manager (Mr J. A. McPhail) said more container ships than indicated were now scheduled to call at Lyttelton, and this should help balance the finances. As well as losses on the terminal, the board faces arrears : n accident compensation levies of $86,000. The Accident Compensation Commission recently reclassified the board, and demanded the $86,000 in arrears as a consequence. The board is appealing against the reclassification.
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Press, 4 August 1977, Page 1
Word Count
155Port in the red Press, 4 August 1977, Page 1
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