House of Representatives Committees
Standing Committee on Economics, Finance and Public
Media release, 16 June 1997
ADEQUACY OF MANAGEMENT OF OVER $200 BILLION OF COMMONWEALTH GUARANTEES
AND INDEMNITIES UNDER SCRUNTINY
The management of over $200 billion of Commonwealth guarantees and indemnities
will be examined by the Financial Institutions and Public Administration
Committee at a public hearing next week. At the hearing, the Department
of Primary Industries and Energy and the Department of Defence will give
evidence on issues raised in an Australian National Audit Office (ANAO)
report on Commonwealth guarantees, indemnities and letters of comfort.
In its report, the ANAO identified significant shortcomings in the management
and monitoring of Commonwealth guarantees, indemnities and letters of
According to Committee Chairman, Mr David Hawker MP, the hearing will
provide an opportunity for the Committee to hear the views of these departments
on the issues raised in the audit report.
"The Department of Primary Industries and Energy administers various
significant Commonwealth loan guarantees, including those for Wool International
and the Australian Wheat Board," said Mr Hawker.
"In contrast, the Department of Defence administers a large number of
"This public hearing is likely to be the final hearing in this inquiry,
and drafting of a report will commence shortly," Mr Hawker concluded.
13 June 1997
Further information: David Hawker MP (Chairman) (06 277 4100)
Christopher Paterson (Secretary) (06 277 4587)
Public Hearing Program
Monday 16 June 1997 9.30 - 11.00am
Committee Room 1R1
9.30 am Department of Primary Industries and Energy
10.15 am Department of Defence
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