Friday, October 19, 2012

Saskatchewan government contemplates sale of Information Services Corporation

Wall government considers privatizing despite the fact that ISC has posted nearly $100 million in net income most of which returned to the people of Saskatchewan.

October 19, 2012

The Save Our Saskatchewan (SOS) Crowns Campaign is expressing concern for the future of Information Services Corporation (ISC) as the Sask Party government examines whether or not they will set the stage for privatization later this fall.

Recently the government announced that a ISC is being evaluated by RBC to determine whether or not they will introduce legislation in the fall to begin the process of privatizing the Crown Corporation.

Since 2007 ISC has posted nearly $100-million in net income, much of which is returned to the people of the province through dividends to Crown Investment Corporation (CIC), lowering the tax burden for all Saskatchewan residents.

The government cites difficulty in expanding business as the reasoning behind the suggested privatization. However, it would seem obvious that once privatized, an expanded ISC will not be returning any profits to taxpayers.

In 2008, former minister responsible for Crowns, Ken Cheveldayoff wrote in ISC’s Annual Report, that his priority was “to ensure that Saskatchewan’s Crown Corporations remain publicly owned...This is a promise our Government made to the people of Saskatchewan, and it is a promise we will keep.”

Concerns have already been surfacing around the government’s commitment to the privacy and security of Saskatchewan residents and businesses with their recent partnership announcement with Chinese-based Huawei.

SOS calls on the government to abandon their plan to determine the feasibility of privatizing ISC and re-evaluate their restrictive Sask First Policy that handcuffs the investment opportunities for all Crown Corporations in Saskatchewan.

Save Our Saskatchewan (SOS) Crowns Campaign is a broad based Coalition aimed at reaffirming to the people of Saskatchewan the importance of preserving and growing the Crowns, by ensuring all aspects of the Crowns remain in the hands of the public.

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