NBN Co to limit spending in limbo period

NBN Co has announced it would cut down on its spending until its future is determined by the forming of a Federal Government, post Saturday's hung election result.

The freeze on spending and procurement was first reported by the Sydney Morning Herald.

The company said in a statement that t would "continue to operate, plan and use existing resources but would seek to minimise any discretionary expenditure".

NBN Co said it intends not to award "any new significant contracts", issue new requests for capability statements or proposals, and would "postpone or suspend significant existing tender processes during the post-election phase... where appropriate".

NBN Co said affected vendors would be notified of the decision.

The network builder also said it would "suspend employee interviews and will not issue any new offers to potential employees."

iTnews reported yesterday that NBN Co had some 47 positions vacant that were listed prior to the election.