Prescribed assets will be brought in via ANC’s Trojan horse
The PIC Act is merely a prelude to prescribed assets — which the ANC added to its manifesto in a dubious way
The ANC-sponsored parliamentary committee bill to amend the Public Investment Corporation (PIC) Act is likely a Trojan horse that is the prelude to the introduction of prescribed assets by the ANC. At first sight the offending clause introduced by the ANC may seem innocuous, but this Trojan horse is likely to be an ANC move that is very different from what its appearance suggests. The offending clause in the bill states that the PIC must seek to invest in what, on the surface would seem to be nice, heartwarming projects such as those that create and protect jobs, and those that industrialise the economy, among others. What these feel-good contents mask is the danger that the inside the Trojan horse is really an unseen agenda that is, perhaps, even unseen by some MPs on the ANC benches who were directly involved with the bill. The real danger of this clause is that it is an initial step towards the introduction of prescribed assets — an ANC position apparently slipped into the ANC 20...
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