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Public Enterprise and Privatization: An Introduction and Overview. ADMN /826 Public Enterprise, Privatization and Public Private Partnerships January 7 th 2004. What is Public Enterprise?. Legal Definition:.
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Public Enterprise, Privatization and Public Private Partnerships
January 7th 2004
6 Categories of Nationalization:
RETURN TO SHAREHOLDER
Target $150 Million Dividend
(2000 dividend declaration deferred by shareholder)
$7.6 Billion in Assets
INVESTMENT FOR SASKATCHEWAN
Capital expenditures in excess of $415 Million
SUPPORT OF SASKATCHEWAN
$637 million of goods and services from local suppliers
$4.7 Billion or 14.3 % that the
Crown Sector contributes to provincial GDP
13,160 Direct Jobs / 8,304 Indirect Jobs or
4.4 % of Total Saskatchewan Employment
CROWN CORPORATION & INVESTMENT REVENUES
Annual Revenue of $3.2 Billion
(Consolidated to Holding Company)
Based on Year 2000 Data
Chair of the Board: Pat Atkinson
President: Frank Hart
Total assets: $8.08 billion
Holdings as % of Sask. GDP: 15%
% of Sask. employment: 9%
Consolidated earnings: 284.1 million (2002)
Consolidated revenues: 3,489.9 million (2002)
Consolidated debt: $3,514.9 million (2002)
Debt ratio: 55% in 2002
Return on equity: 10% in 2002
Dividend to GRF: $300 million for 2002
Information Services Corporation of Saskatchewan
SGGF Management Corporation
Saskatchewan Government Insurance
Saskatchewan Opportunities Corporation
Saskatchewan Power Corporation
Saskatchewan Transportation Company
Saskatchewan Water Corporation
Big Sky Farms Inc.
Centennial Foods Partnership
NewGrade Energy Inc.
Meadow Lake Pulp Limited Partnership
Saskferco Products Inc.
“The transfer of public assets, operations or activities to private enterprise”.
Margaret Thatcher once remarked: “The public controls the private sector, but nobody controls the public sector”.
What is Privatization?
What are the economic & social market failures?
“Our view is straightforward. If government doesn’t need to run something, it shouldn’t. And in the future, it won’t.”
Canadian Budget 1995
Consider University education:
Benefits of Privatization:
To the Private Sector:
Costs of Privatization: