Insurance Business Saskatchewan premier confirms potential partial sale of SGI

Saskatchewan premier confirms potential partial sale of SGI In response to comments from the NDP accusing Saskatchewan Government Insurance (SGI) minister Joe Hargrave of scheming to sell off the Crown corporation, Saskatchewan Premier Brad Wall clarified that the public insurer is only looking into a potential partial sale.

NDP interim leader Trent Wotherspoon claimed that Hargrave had been meeting with several parties to close a deal on SGI, to which Wall said “of course.”

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“We campaigned on not privatizing the Crowns and we’re not going to,” Wall explained to reporters Wednesday, noting that the government is open to creating private partnerships. “It’s about strengthening that Crown corporation, that head office, maybe creating jobs in the province.”

CBC reported that as of Wednesday, Hargrave’s office said that there were no offers for the public insurer.

Wotherspoon criticized the decision to sell parts of SGI, saying Wall is breaking his campaign promise
not to privatize the Crown’s corporations.

“It’s a bald-faced lie when you see Bill 40 and the actions of this government with STC now through to SGI and SaskTel,” he commented. “This is a government looking for cash.”

Under Bill 40, the government is allowed to sell as much as 49% of a Crown corporation.

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