EXCLUSIVE: Gigaba drops bombshell on possible raid of PIC funds
The government is scrambling to raise money for struggling state-owned companies, notably airline SAA
Finance Minister Malusi Gigaba has told Cosatu’s central executive committee meeting that he cannot guarantee that the government will not attempt to make use of the Public Investment Corporation’s (PIC’s) funds to capitalise state-owned companies and other projects. This comes as the government scrambles to raise money for struggling state-owned companies, notably airline SAA, which has lenders and creditors breathing down its neck. Business Day understands that Cosatu leaders took the minister to task after his presentation on Monday, demanding the assurance that the crisis of the country’s burdened fiscus would not affect workers’ "hard-earned" pensions and savings. If you are already a subscriber, please click on the following link below to go to the full article: Gigaba: state may dip into PIC funds If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here to subscribe. * Premium content is not yet available on the app. Please use the d...
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