COURT THREAT
Union turns up heat on Malusi Gigaba over PIC
The finance minister has replied to the trade union’s request to explain board appointments
The Public Service Association (PSA) says it is pushing ahead with its planned court action against Finance Minister Malusi Gigaba over requested disclosures on the board appointment processes at the Public Investment Corporation (PIC). This is despite Gigaba having replied to the trade union’s request for explanations on the application of the Public Investment Corporation Act when appointing board members. In a letter seen by Business Day, Gigaba wrote of his plans to meet public sector trade unions in January to discuss the governance issues at the PIC. He explained that the decision emanated from briefings by all involved parties to the standing committee on finance. The parliamentary meetings considered proposals for the measures that could be adopted to safeguard the independence of the PIC and ensure it did not fall victim to state capture. This took place as unions pushed for representation at the PIC in order to influence investment choices with the aim of ensuring workers ...
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