Australia's Queensland state election threatens A$37b asset sale plan

Melbourne

THE Liberal National Party's potential ouster from power in Australia's Queensland state threatens to derail a programme to sell A$37 billion (S$39 billion) of assets including electricity grids, power stations and ports.

State Premier Campbell Newman, who lost his seat in the Jan 31 elections, had pledged to auction government assets in a bid to cut borrowing estimated to rise to about A$78 billion by the end of June. Labor Party leader Annastacia Palaszczuk said on Sunday she's optimistic of forming a new state government in coming days and signalled her party wouldn't proceed with the sale programme.