SMH Online, 12 May 2009

Joe Tripodi ... testing the market worldwide.

NSW government minister Joe Tripodi spent $290,000 of taxpayers' money travelling the world to drum up interest in the proposed sale of the government-owned electricity assets.

It ranks as one of the most expensive state ministerial trips ever taken.

Mr Tripodi, the Minister for Ports and Infrastructure, headed a group of six advisors who visited 11 countries in 27 days.

They had 30 meetings with potential bidders for the assets, according to details of the trip disclosed to Parliament today.

Travelling with him were his chief of staff, Jennifer Doherty, Treasury officials, and other advisors such as Frontier Economics, Carnegie Wylie and Credit Suisse.

The group visited Singapore, Malaysia, Japan, Korea, the UAE, France, the UK, the USA, Canada, Hong Kong and China.

"Several [investors] indicated their intention to participate in our reforms," Mr Tripodi said.

Of the total, $170,000 was spent on air fares, $48,000 on road and rail expenses, another $69,000 on accommodation and meals, and a further $3000 on miscellaneous expenses.

The new head of NSW Treasury, Michael Schur, pulled out of the trip part way, to return to Sydney to work on the State Budget, due mid-June, and was replaced by one of his deputies, Mr Kevin Cosgriff.

The government has not indicated the likely proceeds from the sale, which is expected to easily top $6 billion.

"This government has rocks in its head if it thinks selling assets at this time is worth doing," said Opposition Treasury spokesman Michael Baird of the proposed sale.