IT IS going to be an anxious few weeks for manufacturers in the run-up to the medium-term budget policy statement. It is hoped that Finance Minister Pravin Gordhan will announce that new funds are available for what has been our most successful industrywide incentive programme, known as the Manufacturing Competitiveness Enhancement Programme (MCEP).While it has brought billions of rand in support for industrial investment, the MCEP has been the victim of its own success. Funds ran out and it was suspended in October 2015.One bit of good news emerged on September 19 when Trade and Industry Minister Rob Davies announced that one section of the MCEP — a loan facility administered by the Industrial Development Corporation — would be reopened. Money has been trickling back from loans that were granted earlier, and this cash can now be reinjected through fresh loans. It is back to business.Less comforting is the news that as yet, the main element of the the enhancement programme is still ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.