14 April 2025 (Punjab Khabarnama Bureau): Led by Indo-Canadian billionaire Prem Watsa, a group of corporate leaders in the country have endorsed the opposition Conservative Party ahead of the election on April 28.
Under the banner of Friends of Free Enterprise in Canada, over 30 of them signed an open letter which was published in Canadian outlets over the weekend.
They outlined four principles required to arrest Canada’s economic decline. These were supporting free enterprise, eliminating barriers, restoring fiscal discipline and reforming the tax system.
The letter stated, “Now is the time to act. That is why we are support Pierre Poilievre and Conservative Party of Canada. They have a clear plan address these issues and get Canada back on track.”
The signatories to the letter included the Toronto-based Watsa, chairman and CEO of Fairfax Financial. Other Indo-Canadians in the list included real estate magnate Bob Dhillon, president and CEO of Mainstreet Equity Corp, serial entrepreneur Amar Varma and CEO of Marval Capital Ltd and chairman of Fairfax India Ben Watsa.
Prem Watsa is known as the Warren Buffett of Canada.
Other signatories included Colliers International global CEO and chairman Jay Hennick, Mattamy Homes chairman and CEO Peter Gilgan, and former CEO and president of Scotiabank Brian J Porter.
Summary: Over 30 top business leaders back the opposition Conservatives, citing economic concerns and supporting Pierre Poilievre’s pro-business policies before the April 28 vote.