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Willis must come clean on Qantas sale



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96/92

ISSUED* 30—J/J—92

WILLIS MUST COME CLEAN ON PANDAS SALE

Delays In the public float of Qantae to avoid a clash with the 1993 Federal election demonstrate just how muddled the sale process has become according to David Jull, Shadow Minister for Tourism and Aviation,

’ ’The Opposition has warned for many months that the sale is being held up by the Government's political priorities. If the Government had not made policy on the run from the

beginning the sale would be further advanced," David Jull said.

"Mr Willis must come clean and end this confusion.

"The messages sent to potential investors have not been encouraging.

"Mr Willis has let the cat out of the bag in indicating the importance of the sale as a means of helping contain the 1992/93 Budget deficit.

"He now claims that the sale of a substantial minority in the trade sale will not have an adverse impact on the Budget estimates, However, with the passing of time questions must be raised about whether even this level will be reached.

"While I understand the Government's reluctance not to commence the float during the election campaign, it has no one to blame but itself for the growing catalogue of delays.

"Rather than expect investors to wait with bated breath for the next announcement, Mr Willis should say precisely what the Government intends.

"If it is in the public interest and in the interests of Qantae to delay the sale until after the election this should be stated unequivocally. It is unreasonable to expect investors to leap blindly into the dark with so much money at

stake.

"The time has now come for Mr Willis to reveal whether the sale will go ahead as scheduled."

For further information contact David Jull on (07) 343-8666 or (02) 360-7955 (A/H)

COMMONWEALTH

PARLIAMENTARY LIBRARY MICAH