THE New Zealand Government has elected to increase petroleum and minerals permit fees despite its resources sector facing difficult times.
New Zealand Petroleum and Minerals (NZP&M) reported that following consultation the decision was take raise fee costs to help the government recover the costs of permit administration. The new fees will take effect from January 1, 2017.
“Fees have not been substantially reviewed for some time, resulting in a widening gap between the cost of administering permits and what permit holders were paying” said James Stevenson Wallace, General Manager of NZP&M.
He said NZP&M consulted on two options, one which would have recouped the gap over six years and another over a shorter period.
The Government has adopted the first option – to recoup the gap in costs over six years – with minor adjustments to ease the impact on permit holders.
“Some submitters raised issues that were outside the scope of the 2016 fees review. We have listened to this feedback and these additional issues will be examined in the next fees review in 2019, said Mr Stevenson Wallace.