NSW Treasurer Eric Roozendaal would not confirm yesterday if the almost $70 million sale had been approved, to plug looming budget shortfalls, but admitted the sell-off had been under review.

A spokesman told the Mercury a final announcement would not be made until Tuesday's mini budget.

But the spokesman said the safety of 600 jobs in Wollongong would be a "central element" of how any sale would be handled.

"We are aware that Pillar is a considerable employer in Wollongong," he said.

"Protecting those jobs would be a prime consideration of the sale."

But Opposition Leader Barry O'Farrell and Opposition spokesman for the Illawarra Greg Pearce question if it is the right time to sell and want a firmer job guarantee.

"The Illawarra is a region where unemployment is already above the state average, so any loss of jobs would be a massive blow to the local economy," Mr O'Farrell said yesterday.

"The potential job losses couldn't come at a worse time as the economy is entering choppy waters.

"If the State Government proceeds with the sell-off, (Premier) Nathan Rees must do everything he can to ensure the call centre and its associated jobs remain in Wollongong."

Mr Pearce said Mr Rees must guarantee any sale proceeds are put back directly into the region's infrastructure upgrades to boost economic growth.

"Given the current turmoil on the financial markets, one has to wonder whether this is the best time to sell," Mr Pearce said.

Mr Rees has also confirmed the Government will sell off electricity retailer Integral Energy, along with Country Energy, EnergyAustralia and new generation development sites.

"Previous commitments to retail employees about job security and future entitlements will remain in place," he said at the weekend. Consumers would be protected by Independent Pricing and Regulatory Tribunal of NSW price regulation until 2013 or until there was sufficient competition.