A parliamentary committee scrutinising the NSW Government's decision to relocate the Powerhouse Museum to Parramatta at a potential cost to taxpayers of up to $1.5 billion has given the former NSW premier Mike Baird an ultimatum: either appear before it or be forced.

Mr Baird is one of three prominent business leaders who has been given 24 hours to reconsider his refusal to front the Upper House inquiry - or be summonsed to do so.

A parliamentary committee is scrutinising the decision to relocate the Powerhouse Museum to Parramatta. Credit:Louise Kennerley

Mr Baird's former chief of staff, Bay Warburton, who joined Mirvac as the head of Stakeholder Relations last August, is also believed to be among those summoned to give evidence as soon as next month.

The move suggests the committee, chaired by Shooters, Fishers and Farmers MLC Robert Borsak, may be pursuing information around any commercial plans for the existing Ultimo site or the museum's proposed riverside home in Parramatta.