Albanese adds cautionary voice to QR sell-off

By Rob McKay and Jennifer Perry

Albanese underlined the problems of vertically integrated privatisations such as that of Telstra as a reason for caution.
His statement follows similar concerns expressed by federal resources minister Martin Ferguson and trenchant opposition from coal miners and transport unions in the state.
Albanese also said that he will not block the involvement of the Australian Rail Track Corporation (ARTC) in a potential bid for QR’s coal tracks.
The Australian Financial Review reported last week that a consortium of 14 coal companies including heavyweights BHP Billiton and Rio Tinto had held preliminary discussions with ARTC over being a potential operator of the tracks.
“The ARTC are of course an independent entity...and those decisions are made by the ARTC board...but certainly the issue of structural separation has been one that is under current consideration,” Albanese told The Australian Financial Review.
Despite the increasing pressure, Queensland premier Anna Bligh is sticking to her guns, rejecting any comparison between Telstra and her government's plans for QR.
Bligh and Fraser met with the consortium’s 14 coal executives last Friday to discuss the miner’s bid for QR’s coal tracks.
While Bligh and Fraser have publicly denounced the miner’s bid, they reportedly told the executives on Friday that the government would consider it, however the government would not undertake a dual-track process as an alternative to the public float later this year.
“It’s clear that all involved want what’s best for the industry and the Queensalnd economy. However, we disagree on the best way to achieve it,” Fraser told The Australian Financial Review.