Incredibly concerning: NDP upset at sale of former Crown corp. begins
Aleana Young, the Sask. NDP’s critic for Crown Investment Corporation, which held the ISC shares, had been sounding the alarm for weeks on the legislation and now on the sale of the company. She called it a terrible idea. 'This is a company that is not going to be publicly traded, they’re not going to have reporting to shareholders, there’s going to be no obligation on this company to disclose to anyone publicly if they’re interested in selling ISC again,' explained Young on May 5.
Young said there’s been no evidence that there’s anything to prevent the company from selling to another foreign-owned company, which she said is concerning when it comes to farmland transactions. She also warned about potential fee hikes for land title changes, arguing that private companies only consider profits. 'These things are publicly owned,' Young said, 'and the public interest should stay at the forefront.'
During committee, Kent Cambell, president of Crown Investments Corporation, did say fees charged under the master services agreement were contractually committed and wouldn’t change. However, the Globe & Mail has been reporting buyers and a potential sale for months, but questions about why the legislation would strengthen public assets kept being shut down. 'It’s a government that won’t answer basic questions about public assets,' Young argued, citing the lack of clarity on whether the sale would benefit Saskatchewan or create jobs.
Harrison, the Saskatchewan Premier, supported the deal, stating it aligns with statutory provisions and offers provincial benefits. He highlighted the $277 million profit as a strategic investment in health-care infrastructure. 'We thought that was a good opportunity,' he said, emphasizing long-term value. However, concerns remain about service continuity during the transition, with the legislative changes allowing up to two board members, despite not owning shares. Young criticized the government for prioritizing one-party control over democratic principles.
