Treasury is not impressed with the performance of State-Owned Enterprises.
A report by its Crown ownership monitoring unit suggests SOEs should be doing better and paying more in dividends to the Government.
The unit said that if all SOEs had been as successful as Meridian Energy, they would have paid between $3.2 - $5.1 billion in dividends over the past 10 years, rather than $1.5 billion.
But the report conceded that if those SOEs had paid more in dividends, they would not have been able to invest as much in physical capital, such as new power stations.
