Csiro Loss On Vessel
Central Coast Herald
Thursday June 5, 2003
BUDGET pressure forced the CSIRO to sell one of its marine research vessels at a massive loss, netting $3.5million less than was hoped.
A Senate budget committee heard yesterday, the MV Franklin, was sold by the CSIRO for just $1.3million, despite estimates the ship was worth between $4.8million and $7.7 million, and listed by the CSIRO with a book value of $9million.
Labor's Kim Carr said the fire sale came at a time when the CSIRO was already under serious funding pressure.
The CSIRO decided to sell the ship last year, when it was retired from service.
Senator Carr said the CSIRO had sought $120million in Budget funding for the next three years, but received only $20 million. AAP
© 2003 Central Coast Herald
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