Vol. 516 No. 4
13 Mr. O'Shea asked the Minister for the Marine and Natural Resources the proposals, if any, the Government has for the future of Coillte; if he will publish the report on options for the future of the company commissioned by the Government from financial advisers; if the report advises against privatisation; and if he will make a statement on the matter. [8184/00]
The strategic plan for the development of forestry, published in 1996, indicated that Coillte Teoranta would be maintained in public ownership in the medium term but that the full commercial development of the company would provide Government with a wide range of ownership options in the future.
Last year, AIB Capital Markets and Merrill Lynch International were appointed to carry out a consultancy study to assess the options for the corporate development of Coillte. The study involves considering the role of Coillte in contributing to the Irish forestry sector and the identification and evaluation of appropriate options for the corporate development of Coillte, including strategic alliance and wider share ownership possibilities. The consultants' report is expected very soon and on receipt of it I intend to publish it and invite comments on it from sectoral interests.
I am confused by some of the reports that have appeared in the national media. One article states that the Government's programme on privatisation is in total disarray as a result of the report. Is there a further report? The report publicised in the national media seems to indicate that the recommendation is against Coillte's privatisation.
We have examined the draft report, but the final report has not been received and, consequently, I should not comment on it. I read the reports the Deputy mentioned. At this stage no decision has been taken. We will be in a position within a month or so to consider this report and then make a decision as to whether Coillte is ready for privatisation. That will be considered very carefully.
Is it still the Government's policy, as part of its programme for Government, to privatise Coillte?
I have an open mind on the issue. The maintenance of Coillte in public ownership in the medium term was the view expressed three years ago in the strategic plan. Any decisions to be made by Government will take into account the views of the consultants and will be in the best interests of the shareholder and company. I cannot comment on the final report as we have not received it, but we must be careful in making a decision as important and far reaching as the privatisation of Coillte.
