WOODLAND LEAGUE PRESS RELEASE FEB 25 th 2013 For immediate release.
THE ELEPHANT IN THE FOREST ASSET SALE DEBATE
The Woodland League wish to highlight the
fact that Coillte since 2009 have already sold 108
million euros of trees with harvesting rights, to
IFUT ( Irish Forestry Unit Trust ) a pension fund company, of which they are
partners . In a bizarre situation, Coillte have used
these proceeds to pay off some of its own large pension fund debts. The
National Pension Reserve Fund has also been used by IFUT to fund these
sales and its contribution obscured within IFUT’s bail out of Coillte. This is not how this vital Public NPRF funding
should be used, it is supposed to be invested in the
peoples future.
http://www.nprf.ie/Publications/2011/NPRFReport2010.pdf
Coillte are also partners in IFUT using
15 million punts worth of Public forests in 1994 for their
equity share, this major transfer of Public assets occurred without any
accountability or Public consultation. Coillte
have sold 40,000 acres of Public forests since its inception in 1989,
privatizing Public assets has been part of its modus operandi. IFUT is the home
of most semi state company pension funds, like the ESB, and Bord
Gais, IFUT is in effect a vehicle being driven by a
Public company facilitating Public servants to buy Public assets from the same
Public company.
The Woodland League believe
this issue should be debated as part of the upcoming Dail
motion on wednesday 27th February against
the sale of Coillte harvesting rights.
Andrew St Ledger, spokesperson of the Woodland
League, commented “ There are too
many unanswered questions arising from this latest outrageous transfer of
Public assets, which has been conducted under very dubious circumstances. It is
a continuation of the Haughey/Ahern stroke politics
agenda we are told is in the past. This is an affront to the Irish people who
should be the beneficiaries of these assets which could help to offset the
burden of austerity they have to carry ”.
In “ The economics of Irish Forestry
” , a book written by Professor Peter Clinch in 1997, it points out that
the Strategic goal of the 1996 Strategic forestry plan is to develop
forestry to a scale and in a manner which maximises its contribution
to National well being on a sustainable basis and which is compatible with
the protection of the environment. It would appear the objectives of this plan
which is a fundamental part of Coillte's remit have
gone way off course. St Ledger
went on to say,“ Public servants through
their pension funds are buying up Public assets using IFUT to feather their own
nest, as if this resource was theirs to take and use which
ever way they like ”.
Why was there no public tendering or consultation
regards the forests and harvesting rights sold to IFUT
?
What were the terms and conditions attached to
these sale agreements ?
Why was there no Dail
debate regarding these large transactions involving Public asset sales to
Public servants ?
Why has no one enquired into the blatant conflict
of interest which is clearly at play in regards to Coillte
acting as seller of Public assets and buyer of same assets ?
The Woodland League repeats its call made in
December 2012 and echoed in the Oireachtas for a full
Public Enquiry into the affairs of Coillte with a
suspension of all forest asset sales and other plans regards Coillte pending the outcome of the Enquiry.
http://www.woodlandleague.org/pressreleasedec18.pdf
ENDS
For more information Contact
Andrew St Ledger 0879933157.