New valuations of Meridian Energy, which is the next state asset the Government wants to partially sell, reveal it is not worth as much as expected.
Both the Labour and Green parties says this is another reason for the Government to abandon its asset sales policy.
Labour's State-owned Enterprises spokesperson Clayton Cosgrove says the policy is seriously flawed economically.
He says it is the wrong time to sell and the big loser is not the Government, but the tax payer.
Mr Cosgrove says it is time for the Government to admit the policy is a farce.