COMMENT: Should local politicians be made accountable for the decisions made by their regional ports? It is an interesting question which is currently being debated in New Zealand, where all ports have either majority or 100% regional council ownership, often through a holding company, writes Dave MacIntyre.
Lyttelton Port of Christchurch (LPC) has delivered a comparable 1.3% increase in earnings before interest, taxation, depreciation and amortization to NZ$15.9m for the six months to December 31, 2014 (an after-tax figure has not been disclosed).
Port Otago has been criticised for excessively pricing its sought-after leasehold land parcels and showing no ‘social’ aspect to its land sales policy despite being 100%-owned by the Otago Regional Council (ORC).
New Zealand’s port sector holds high expectations the Government will amend the Resource Management Act to ensure consent for vital port developments can be achieved in a timely and cost-effective manner.
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