Dáil Éireann Debate, Thursday - 13 April 2017
18. Deputy Mick Wallace asked the Minister for Public Expenditure and Reform if he is satisfied with his Department's role in the State asset disposal programme to date; and if he will make a statement on the matter. [18714/17]
Amharc ar fhreagraThe Government announced its decision on the State Asset Disposal Programme in February 2012. The following month, my Department published a protocol on meetings with market participants and/or advisers in relation to any of the assets that formed part of the overall disposal programme. The protocol, which is available on my Department's website, set out the policy for future engagement with market participants and advisers in relation to any of the assets concerned, and the procedure to be followed when any requests were received for meetings with officials of NewERA and/or any Government Department, including advisers to Departments or Ministers.
My Department established an overarching inter-departmental Steering Group, comprising senior officials from each of the sectorial Departments with responsibility for the assets included in the Programme, together with the Department of Finance and NewERA, to oversee the implementation of the overall disposal programme.
Each individual asset disposal transaction was then separately overseen by a dedicated Steering Group, involving senior officials of the relevant policy Department, my Department, the Department of Finance and NewERA, which was co-chaired by the relevant policy Department and my Department, with the relevant policy Department taking the role of lead co-chair in each case.
The individual sale transactions under the State Asset Disposal Programme were transacted via an open, transparent and competitive process that secured fair value for the assets sold, while protecting the economy by ensuring that key strategic assets such as the electricity and gas networks were retained in State ownership.
I am fully satisfied that my Department acted appropriately at all times in progressing the State Asset Disposal Programme and that the governance procedures put in place for implementation of the individual asset disposal transactions were robust, consistent with best practice and ensured that value was achieved for the State in all cases.
