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Copeland: AGMs needed for SOEs

Copeland: AGMs needed for SOEs

State-owned enterprises should hold annual general meetings, according to United Future finance spokesman Gordon Copeland.

Mr Copeland raised the issue during the debate on Crown entities in Parliament this week, when he noted that many questions raised by journalists and politicians about the contribution of state-owned energy suppliers in both generation and transmission, to the electricity crisis were left unanswered.

"If we are trying to operate SOEs as if they were commercial businesses, then, like companies in the private sector, the board and management of SOEs should be subject to an AGM, with open scrutiny from stakeholders.

"Such meetings would allow representatives of consumer groups, the media and other interested parties to probe our SOEs just as if they were publicly listed companies, since the citizens and families of New Zealand are the ultimate shareholders of these enterprises.

"There have been many questions raised in the media, and all too few answers. Such a move would go some way to addressing that issue," Mr Copeland said.

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