THE Public Investment Corporation (PIC) is sitting on a potentially explosive report of a probe into alleged irregularities in its R75m investment in SacOil.United Democratic Movement president Bantu Holomisa has asked Public Protector Thuli Madonsela to investigate the state-owned investment manager’s involvement in the oil and gas company.This comes amid increased public scrutiny of the investments and strategies of the asset manager, which is responsible for about R1.8-trillion of government pension and social security funds.The PIC is facing a renewed opposition-led drive for more transparency about its affairs that include murky, unlisted investments that make up about 30% of the entity’s investment portfolio.Holomisa said on Thursday the PIC was "under pressure" from politicians and business people who had "found all of a sudden there is an easy fund lying somewhere"."I call upon the pensioners and the employees of the government to wake up and call for proper leadership in th...
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