Liberal leader David Karwacki would sell the provincial government’s stake in Saskferco to fund infrastructure projects.
Karwacki announced his plan at a campaign event in Regina Oct. 18.
The province owns 49 percent of the fertilizer manufacturer at Belle Plaine. Mosaic owns the majority 50 percent, while Citibank owns one percent.
Karwacki said the province’s share is worth more than $400 million.
He would split those proceeds four ways: $100 million each for critical infrastructure in Regina and Saskatoon; $100 million to Regina, Saskatoon, Prince Albert and Moose Jaw for downtown densification projects; and $100 million for infrastructure projects in smaller centres like North Battleford and Humboldt.
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Anything in excess of $400 million from a sale would go toward debt reduction.
“There are infrastructure needs all around this province,” Karwacki told reporters. “But what we believe is the major urban centres will be the magnet to keep young people here.”
He said the smaller cities and communities are going to act as regional service centres.
“We want to make sure they don’t fall behind as well.”
Karwacki has said before that the province should have sold its share of Saskferco when Mosaic was purchasing its majority share. He estimated the government would have earned more than $500 million then.
In addition to the one-time funding from Saskferco proceeds, a Liberal government would continue the per capita infrastructure funding that already exists.
