The Public Accounts Committee is seeking an update from the Revenue Commissioners on how much longer it will take to dispose of a ship on which a major consignment of drugs was seized in 2023.
The MV Matthew, which is tied up in Cork Harbour, is costing an average of €120,000 each week to maintain and the total expenditure involved now exceeds €9.3 million.
Cocaine, with an estimated value of €157m, was found on the ship off the southeast coast after an inter-agency operation involving the Army Ranger Wing in September 2023.
The ship had to be held by the State until the conclusion of the criminal trials that followed, but the vessel was released by the courts last December.
Revenue has found a preferred bidder to sell the boat to but it said the regulatory work involved in advance of the sale is complex and time-consuming.
Fianna Fáil TD and PAC member Seamus McGrath said that Revenue must explain what preparatory work was carried prior to the ship being released.
Independent Ireland leader Michael Collins called on the Government to speed up the sale of the vessel saying the €120,000 weekly maintenance cost was not sustainable.
Berthing for the ship has cost more than €2m while maintenance and crewing costs have run to a combined figure of more than €7m.
Revenue is also chasing down over 20 certificates which must be in place before the ship can be sold and removed from Cork Harbour.
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It has informed Minister for Finance Paschal Donohoe that due to the complexities of the regulatory framework; it may be a further number of months before the disposal of the vessel will be completed.
In a statement, Revenue said the disposal of the MV Matthew remains a key priority and it is taking all steps necessary to complete the disposal and enable the departure of the vessel from Cork Harbour expeditiously and without delay.
In a statement issued tonight Revenue said the disposal of the MV Matthew remains a key priority and it is taking all steps necessary to complete the disposal and enable the departure of the vessel from Cork Harbour expeditiously and without delay.
