Social compact on Eskom to be signed by stakeholders during Nedlac summit

Business and government representatives will formally endorse Cosatu’s proposal to use public servants’ pensions to reduce Eskom’s debilitating debt pile, the union federation’s Matthew Parks says.  

Cosatu proposed a package of measures to rescue Eskom, which is surviving off government bailouts as it does not generate enough cash to service its more than R500bn borrowings,  including converting R100bn worth of the power utility bonds held by the Public Investment Corporation (PIC) into equity.     ..

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