Multiple companies expressing ownership interest in SGI

Saskatchewan passed legislation in April that allows for the sale of up to 49% of a crown corporation

The Saskatchewan government has confirmed 11 private companies have expressed interest in buying a portion of Saskatchewan Government Insurance (SGI).

But Premier Brad Wall says meetings recently attended in Toronto by SGI Minister Joe Hargrave were not related to the future of the Crown-owned insurer.

Wall says the meetings were in Hargrave’s role as Crown Investments Corporation minister and are a regular occurrence for the government.

However, the New Democratic Party (NDP) Opposition believes the Saskatchewan Party is laying the groundwork for a sell-off of the province’s Crown corporations.

NDP Leader Trent Wotherspoon says Wall is “ramming something forward for which he has no mandate.”

Last month, Saskatchewan passed legislation that would allow the sale of up to 49% of a Crown corporation.

The new law comes as speculation swirls that the province is looking to sell a sizeable portion of Saskatchewan’s telecommunications provider.

The government also confirmed that it has approved $3 million in what SGI president Andrew Cartmell calls “merit and short-term incentives” for SGI managers.

The 350 employees will receive an average of $8,700 each.

Copyright © 2018 Transcontinental Media G.P.
Transcontinental Media G.P.