The next premier of Newfoundland and Labrador says the possibility of privatizing liquor stores in this province is something the province could look at in future.

Frank Coleman told CBC's On Point, the privatization of liquor sales in western Canada has been a success, and may also work here.

Coleman is chair of Rocky Mountain Liquor Inc. in Alberta, a chain of privatized liquor stores.

"I think the big benefit for this is that it releases a huge chunk of capital for the province, capital that could be used for other purposes, so for that reason it has some merits that could be explored," said Coleman.

According to Coleman, government would need to look into successful handling of liquor privatization in other provinces to see how it would work here.

"It is a good alternative in Alberta, I think it has been a rewarding experiment for them," he said.

"It is something that I think the province of Newfoundland and Labrador could look at, but as I say, I don't know what the pros and cons are right now on doing that in this province."

Coleman said while the idea is something to consider, the issue isn't something that's on his list of policies to explore once he takes over the role of premier.