Business of Government: Te Pūkenga breaches covenants, Aussies slam procurement panels and more...

Te Pūkenga faces “further challenges in 2023', the annual report warns. (Image: Te Pūkenga)

Wed, 16 Aug 2023

Te Pūkenga breaches banking covenantsThe complexity and financial tightrope being walked through in the polytechnic mega-merger is writ large in new entity Te Pūkenga – New Zealand Institute of Skills and Technology’s recently filed annual report.The accounts, which the Audit Office “tagged” with a “qualified opinion” disclosed that the organisation breached its banking covenants for the second year running.None of this matters as much for a crown entity as it would for a private business since, in the end, t...

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