Crown Share Panel to Take More Time

The Crown Share Adjustment Payments Panel has advised the provincial and federal finance departments it needs more time to complete recommendations on the Crown share issue.

The panel has been working since January and has received a number of technical briefings and written and oral presentations from federal and provincial representatives.

The panel had hoped to report to the both levels of government by March 15. That date has been extended.

Energy Minister Richard Hurlburt said he respects the panel's difficult task.

"It's taken more than 20 years to get to this point," said Mr. Hurlburt. "It's important the panel takes the time it needs to reach a decision that is fair to all parties involved in this process."

The panel will advise the governments of Canada and Nova Scotia when it is ready to present recommendations.

"Obviously we had been hoping for a decision by March 15," said Hurlburt. "But we know the panel is dealing with some very complex issues. The members on the panel need to be given all the time necessary to resolve this matter."

No new date has been set for the panel's report.