Forestry legislation passed
PA Wellington Privatisation of state exotic forests will be launched by the Minister of State-Owned Enterprises, Mr Rodger, on Wednesday. New Zealand Forestry Corp, Ltd, chairman, Mr Alan Gibbs, and chief executive, Mr Andy Kirkland, will also give details of the sale at the launch. The Government will sell felling rights for 540,000
hectares. Fletcher Challenge, Carter Holt Harvey and Elders Resources NZFP among others have shown interest in bidding for parts of the forests. The law changes enabling the Crown to cash in on state exotic forests passed through its final stages in Parliament on Wednesday night. Mr Rodger said the leg-
islation enabled the Crown to sell cutting rights to State-owned forests, but not. the land the trees stood on. The forests would be let in about 90 to 100 lots, with purchasers having to make upfront payments for cutting rights and to pay annual rental on the land. The Government would use the returns to discharge debt.
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Press, 21 October 1989, Page 35
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163Forestry legislation passed Press, 21 October 1989, Page 35
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