Thursday, February 23, 2012
It could take two years before money from the disposal of state assets is pumped into job creation, according to ministers.
The Government has announced plans to sell some ESB power plants and the supply business of Bord Gáis but not its gas network.
Consideration will also be given to selling the state’s remaining share in Aer Lingus and the trees and timber, but not the land, of Coillte.
Brendan Howlin, minister for public expenditure, said the Government had secured concessions from the troika that one third of the expected €3bn secured from sales could go toward job creation.
Simon Coveney, the agriculture minister, said the Government would not be "rushed into" any sales by the troika, and predicted it would take 18 months to two years to sell assets.
The planned sales were denounced by unions, with Siptu general secretary Jack O’Connor saying it was "a sad day for the Irish people and a tragedy for the Labour Party".
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