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. Cosatu’s biggest and most influential affiliate, the National Education Health and Allied Workers’ Union (Nehawu) has already stated its opposition to a potential bail-out of SAA by the PIC. The union said such a move would be an abuse of employees’ retirement funds, to rescue SAA, which was a "mismanaged and corrupt"...

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