The Public Enterprise Reform Commission (PERC) plans to become a monitoring agency to look after the governments residual stakes in public corporations.
The Treasury is putting together a list of companies the government has shares, which also includes financial institutions, PERC Chairman, Chrisantha Perera said. rn
rnldblquote Some of these residual holdings are in restructured corporations or privatised entities that the government kept on for various reasons. So we are looking at managing these investments on behalf of the government,
dblquote Perera said.rn
rnOnce the list is finalised, PERC will look at divesting some of these passive investments on a case-by-case basis.rn
rnPerera says the New Zealand government adopted a similar model when public enterprises were privatized. rn
rnldblquote New Zealand has done it effectively and I can see PERC going on for another 10-15 years under a changed role where government assets are being monitored on their social and commercial impact,