Ducker defends decision for Pan Pac

Wednesday 30 Oct 2019

Pan Pac Forest Products managing director Doug Ducker has defended his Japanese-owned company’s fast track path to buying land without Overseas Investment Office approval for every purchase.

Land Information Minister Eugenie Sage gave the company approval to buy up to 20,000ha of land for forestry between now and 2022 with a maximum of 25 transactions without specific OIO approval for each purchase.

Ducker strongly disputes claims the company has been given a free pass around OIO regulations.

“We do not in any way shape or form get a free pass on the purchases. This standing consent just eliminates the need to make every purchase conditional on OIO approval. However, the OIO conditions on being able to do so are more stringent than those traditionally required and we have to demonstrate to OIO we are meeting those conditions.”

The company was granted the standing consent based on its long, successful history in NZ with a proven track record for forest management and processing.

More >>

Source: Farmers Weekly

Share |

Copyright 2004-2020 © Innovatek Ltd. All rights reserved.