DA accuses Treasury of withholding details of higher interest rates on SAA loans
The DA has lashed out at the Treasury for not disclosing the interest rates charged by South African Airways (SAA) on its loans. The party’s deputy finance spokesman, Alf Lees, suspects one of the banks’ loan extension conditions beyond the expiry date of September 30 is a higher interest rate. But the Treasury has frustrated attempts to get the details. Parliament’s standing committee on finance has supported the DA’s request for details of the interest rates for SAA’s renewed loans and instructed Treasury to provide this. "National Treasury initially responded, on November 1 2017, by saying that the interest rates were confidential. This response was clearly nonsensical as the standing committee on finance had previously been provided with a full list of all lenders to SAA together with the amounts, maturity dates and interest rates," Lees said in a statement on Monday. He said the Treasury replied to the request by admitting that "the interest rates charged by lenders on loans to...
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