New Zealand's ACT Party calls for selling state-owned Pāmu farms, citing $26M loss and poor performance.

New Zealand's ACT Party is pushing for the sale of state-owned Pāmu farms, which suffered a $26 million loss last year due to falling livestock prices, high interest rates, and Cyclone Gabrielle costs. ACT spokesman Mark Cameron argues that private management could be more effective, but Federated Farmers president Wayne Langford worries that the farms' high value may deter private buyers. Pāmu CEO Mark Leslie acknowledges underperformance but highlights the entity's contributions to genetics and methane reduction. The government aims to improve state-owned enterprises' performance to benefit taxpayers.

2 months ago
4 Articles