increase font size
State Owned Enterprises Minister Paul Goldsmith.
OPINION: The Government is sending a clear signal to state-owned farming giant, Pamu (Landcorp) that things must change.
Like all other SOE’s, Pamu’s success and financial performance must be as profitable and efficient as comparable businesses not owned by the state. In other words, Pamu must do better and be in the top tier when it comes to performance by a diversified farming group.
The recent announcement that Pamu made a half-year net profit of $3m, compared to $15m the previous year, didn’t go down well with the new Government, which is already signalling cuts to civil servant numbers in Wellington.
SOE Minister Paul Goldsmith isn’t satisfied with Pamu’s performance, and for its part, Pamu is listening: the management and board say they look forward to receiving the letter of expectations from Goldsmith.
While the coalition Government has no agreement to sell Pamu, history shows that the thought has crossed National’s mind. In September 2017, on the eve of the general election, National announced that it would sell Pamu if re-elected. It is believed the announcement came as a surprise to many at the time, including Pamu’s board.
So, should Pamu not perform to expectations, National could have another look to offload the company that manages 360,000ha, which includes 83 companyowned farms and 27 leaseholds. There will be no shortage of buyers.
Pamu is a successful business and a large employer with 630 permanent staff and another 300 casuals during seasonal peaks. Over any 12 months, it farms 1.3 million sheep, deer and cattle.
To its credit, Pamu has performed well with net profit after tax of $33m last financial year, compared to $22m the year before.
However, the new Government wants Pamu to lift its game and deliver even better returns. Cabinet will soon sign off on a new chair for the Pamu board.
The ball with then be in Pamu’s court.
OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).
OPINION: Farmers are rightly urging the Government to relax the rules around KiwiSaver and allow young farmers to use their savings towards purchasing either a house, cows or a farm.
OPINION: Over the past 25 years growing wine, Jonathan Hamlet has seen "a massive evolution" in the care taken in vineyards.
OPINION: Foreign policy is a real strength of Winston Peter and this is recognised by Ministry for Foreign Affairs and Trade (MFAT) officials who, so the story goes, wanted him in his present role because of his experience in that field.
OPINION: People have criticised Christopher Luxon for the time he’s taken to appoint a new chief science advisor.
The CEO of Apples and Pears NZ, Karen Morrish, says the strategic focus of her organisation is to improve grower returns.
A significant breakthrough in understanding facial eczema (FE) in livestock brings New Zealand closer to reducing the disease’s devastating impact on farmers, animals, and rural communities.
Farmer co-operative LIC has closed its satellite-backed pasture measurement platform – Space.
OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).
The 2024-25 season apple harvest has “well and truly exceeded expectations”, says Apples and Pears NZ chief executive Karen Morrish.
Through collaborative efforts with exhibitors, visitors, and industry partners, Fieldays says it is reaffirming its commitment to environmental responsibility with new initiatives for 2025.
OPINION: The Free Speech Union is taking this one too far.
OPINION: New national data from The Drug Detection Agency (TDDA), a leading workplace drug tester, shows methamphetamine (meth) use is…
