Earnings are up for the the Crown Investment Corporation.
The crown saw an income of $503 million during 2017-18, $68.6 million more than originally budgeted for.
Part of the reason for the increase is due to the liquidation of assets from the inactive Saskatchewan Transportation Company, which, to date, has brought in $27.6 million.
Minister Responsible Joe Hargrave said that number could go up, as there’s still one asset from the STC which needs to go.
“The wind-up is largely complete at this point,” he said. “Most of the assets have still been sold, with the exception of the Regina maintenance facility.”
Hargrave noted negotiations are in progress at the facility and is expecting the STC to be fully dissolved come March of 2019.
A line by line breakdown, however, was not available nor presented in the reports, which Hargrave said was for confidentiality purposes.
- STC depots sit idle while plans to wind down bus service are developed
- Saskatchewan Government receives 29-million for STC fleet and depots in sale of assets
- STC shutdown still affecting many rural residents
That didn’t go over well with Saskatchewan NDP House leader Nicole Sarauer.
“We don’t know how much was received by government, for the buses for example,” she said. “This is important information.”
Sarauer is calling on the Saskatchewan government to release a fully accosted breakdown, saying the people of the province deserve to know what exactly those assets amounted to for the province.
“Contracts can be written in a way that companies feel comfortable,” she said. “But, again, these are public assets.”
Another big increase is due in part to the income jump SaskPower raked in, but despite their earnings, they didn’t transfer a portion of that over to the STC.
The province’s power authority also is in debt to tune of $7.9 billion, a level of debt CIC President Blair Swystun noted is on the verge of becoming unmanageable.
“It’s a matter of keeping a close eye on insuring that all of the crown corporations are investing sufficiently in their infrastructure, to maintain safe and reliable service for all their customers.”