The Government is to review its agreement with state-owned New Zealand Post amid concerns that the big player is pushing small postal companies out of the market.
Official briefing papers to the new Government, issued yesterday, recommend a study of the 30 small operators’ access to the letter market, and that the overdue review of NZ Post’s deed of understanding be held next year.
Read MoreThe joint venture of New Zealand Post subsidiary Transend and Maltapost was discussed during talks between Malta’s Edward Fenech-Adami and Helen Clark in Wellington. After the meeting, Dr Fenech-Adami said Maltapost was looking for a strategic partner to expand beyond the shores of the Mediterranean island. We think New Zealand Post does offer us the necessary expertise to be able to do that.’ New Zealand Post paid $6.5 million for 35 per cent of Maltapost in February. The remaining 65 per cent is owned by the Maltese government.
Read MoreA former New Zealand Post executive paid a $208,000 golden handshake last year has been hired as chief executive of Maltapost. NZ Post subsidiary Transend holds a 35 per cent stake in the Maltese postal service.
Read MoreParliament’s Finance and Expenditure Committee has unanimously recommended that the Auditor-General undertake a management review of New Zealand Post’s international postal consultancy, Transend.
The committee says that after reviewing Transend’s activities in Europe and South Africa it has a number of concerns and has received wide-ranging evidence suggesting Transend’s management systems need improvement.
The Committee has recommended the Auditor-General undertake an audit of Transend to ensure its policies and procedures are adequate.
New Zealand Post must feel quite at home before Parliament’s finance and expenditure committee. The big State-owned enterprise is being accused of botching one of its overseas contracts — and that is something it is well used to.
For at least a year NZ Post has been kept busy defending its actions in South Africa. In response to a running series of charges that it messed up its operation there and tried to cover its tracks, the State-owned enterprise has had to duck and weave, barely maintaining its position.
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