Govt preparing memo to sell off State assets
The Energy Minister Pat Rabbitte has said a memo is being prepared on which State assets can be sold off to make money for the Government.
It follows reports last week that a minority stake in the ESB could be up for sale to the private sector in the hope of raising about €2bn.
The programme for government contains a commitment to save up to €2bn through the disposal of non-strategic State assets.
Minister Rabbitte said: "The ECB, EU and IMF are looking for savings of more than €2bn."
The Energy Minister said under those circumstances, it is "hard to ignore" companies like the ESB.
Mr Rabbitte said: "When you assess the menu of what constitutes non-strategic State assets you do come back to the energy company as probably being the repository of the greatest wealth.
"There is a memorandum in preparation in terms of the State assets situation and we are examining what can realise the commitments that we have made."
