OCEANIA

Port of Melbourne lease concerns

11 years ago

A bid to push through legislation to lease Australia’s Port of Melbourne has apparently hit a stumbling block, that is according to Australian media reports.

ABC reported that David Hodgett, the Opposition’s spokesperson on ports said they would not support the bill in its current form because it’s not what the government promised during last year’s election.

Concerns around the 50-year proposed lease of the port apparently include industry concerns about competition, the term of the lease and regulation.

The Opposition is apparently calling for amendments to the sale legislation and wants its delayed until the committee delivers its final report at the end of November.

Media reports said that the Government expects to reap between AUS$5bn and AUS $6bn from the sale and it wants the bill passed by the end of the year so time is of the essence.