New Zealand Labour Party

What is going on at Pacific Business Trust?

Pacific Peoples Minister Peseta Sam Lotu-Iiga must explain why the business advisory group Pacific Business Trust is being restructured and is considering selling-off its assets, Labour’s Pacific Affairs spokesperson Su’a William Sio says.

“The Trust’s chairman has warned it is ‘looking at redeploying assets’.

“These weasel words only mean one thing – they’re selling off assets and staff are going to lose jobs.

“The Minister needs to say whether the Pacific Business Trust has a future or not.

“Why is the chairman only now talking about engaging with its key stakeholders and communities?

“And why are final decisions expected to be made by mid-April when the Trust’s Otahuhu building has already been sold and its offices are now for lease? How much was this iconic building sold for and what will that money be used for?

“Sam Lotu-Iiga has a duty to answer these serious questions now,” Su’a William Sio says.