AU$110m for Forestry TasmaniaMore than AU$110 million has been set aside to help Forestry Tasmania as the state decides what to do with its government business enterprise. In a move that could flag considerable change to the business, Treasury has set aside AU$35 million in 2012-13 and AU$75 million split over the following three years so Forestry Tasmania can "continue to operate, meet its contractual obligations and perform its non-commercial functions in the event that market conditions do not improve".Treasury is waiting on the final findings of an independent review into FT's operations, but says there are clear signs that the existing business model is unsustainable. Forestry Tasmania spokesman Ken Jeffreys said it was important to understand that the company was not receiving a large cheque in the mail, but that it was "a provision only to be used in the event that we require it" the Examiner reported. Source: The Examiner |
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