Forests NSW to become a state-owned corporationFriday 11 May 2012 The NSW Government will make Forests NSW a state owned corporation (SOC) the Minister for Primary Industries Katrina Hodgkinson said on Wednesday. Forests NSW will remain publicly owned and the nature of the business and business relationships will remain largely the same but the governance structures will change to improve the organisation’s commercial performance."The decision to corporatise reflects the Government’s recognition that there is much room for improving the financial performance of Forests NSW and delivering better returns to the community," Minister Hodgkinson said. The changes are similar to those introduced into other publicly owned trading organisations such as Sydney and Hunter water corporations. There are no employment level changes proposed as a result of the organisational change. Under the proposed SOC all the current wood supply commitments of Forests NSW will be transferred to the new corporation and will continue to be underwritten by the Government. "The Department of Primary Industries will handle all policy matters related to forestry and together with the Environment Protection Agency and Office of Environment and Heritage will provide an effective regulatory framework for the State’s forestry industry, including Forests NSW," Minister Hodgkinson said. |
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