Gippsland MP stands up for ASIC

Member for Gippsland Darren Chester has welcomed comments made by Finance Minister Matthias Cormann in relation to future employment opportunities at Australian Securities and Investment Commission in Traralgon. 

Mr Cormann spoke about the impending privatisation of ASIC during Senate Estimates this week.

Mr Chester has joined Latrobe City Council in lobbying the Federal Government to keep jobs currently provided by ASIC in Traralgon following the inevitable privatisation of the registry.

The Federal Government plans to put forward a competitive tender process within the next 12 to 18 months which would see a transition to the private sector completed by 2018.

Mr Cormann acknowledged he had been lobbied by council and Mr Chester in relation to Traralgon jobs and assured Mr Chester negotiations with a new private sector provider would include discussions about employment in the Valley.

“The government is very conscious that ASIC is an important employer in that region, so this will be a matter of very constructive discussions with potential operators,” Mr Cormann said.

“The way I look at this, it is actually an opportunity to grow employment to make this business more successful and stronger by giving them the freedom and the opportunity to expand into other areas by providing value-added products.

“I see this very much as an opportunity, including an opportunity for the region, but there are understandably some anxieties that we will seek to address as we work through this process.”

A delegation of Latrobe City representatives will soon travel to Canberra to speak with Mr Cormann on the issue.