Overdraft for M.E.D.
The Christchurch Municipal Electricity Department will meet its $24 million bulk electricity bill with the help of a bank overdraft.
The department’s administration officer, Mr Bryan Slattery, said yesterday tht the use of the overdraft was simply normal business practice in a low cash flow situation.
The department would probably need only $1 million to $1.2 million on overdraft for a short time, he said.
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Press, 24 July 1987, Page 5
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68Overdraft for M.E.D. Press, 24 July 1987, Page 5
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