Opposition parties say the Government is being arrogant as it pushes ahead with its plan to partially privatise its power companies.
Shares in Meridian Energy are due to go on sale later this month and the company will be listed on the stock exchange in late October.
Green Party co-leader Russel Norman says the move is an extraordinarily arrogant one while a referendum on the matter is pending.
"John Key is desperate to sell the people's assets. He's pursued that plan relentlessly in spite of all the evidence, in spite of the fact that it doesn't make any sense economically or fiscally, in spite of the referendum signed by 400,000 New Zealanders" says Dr Norman.
He told Morning Report the Government is acting like a "corporate raider", asset-stripping state-owned power companies.
New Zealand First leader Winston Peters says the Government is being pig-headed and will sell the assets even if it means taking a loss.
He says taxpayers will suffer if the partial float goes ahead.
The Labour Party says both Forsyth Barr and Macquarie have revised down their valuations of Meridian Energy in recent days.
Prime Minister John Key says the partial float is about reducing debt and strengthening the company.
State-Owned Enterprises Minister Tony Ryall says the referendum on the matter does not reflect the clear mandate the Government got during the last election to proceed with its mixed ownership model programme.
He says continuing with the sales makes sense because it allows the Government to continue investing and controlling the nation's debt.
