moved for leave to introduce Bill C-392, an act respecting the privatization of the Export Development Corporation and the disposal of the shares therein of Her Majesty in right of Canada.
Mr. Speaker, this act would have two effects, to turn over to the private sector the provision of short and medium term insurance and financing, and to give back to a government department the task of assisting projects that are not commercially viable but which are thought to be in the public interest.
This bill is being moved because I believe it is inappropriate for a crown corporation to be in competition with the private sector and because I would like the minister responsible for providing a commercially non-viable loan to a developing country to be fully accountable to parliament.
(Motions deemed adopted, bill read the first time and printed)