Housing Minister Learns of Approach to HCNZ by Maori Interests Re Loan Portfolio Sale

"I understand an approach has been received by Housing Corporation from some Maori interests who have expressed interest in buying its ex-Maori Affairs and Papakainga loans portfolio," said Housing Minister Murray McCully today.

"However the Housing Corporation has made no approach yet to the Government on this matter," he said.

"If the Corporation were to wish to progress such an approach and if the Government believed that it should make the portfolio available for sale, then we would commence the same process which has guided previous loan sales," said Mr McCully.

"In other words, there would be a Ministerial Committee appointed to supervise the process, an officials' group to manage the process, and proper procedures to ensure contestability," he said.

"None of those initiatives has been taken up in relation to any approach from Maori interests in respect of this portfolio."