KHAYA SITHOLE: Treasury’s haste undermines its credibility
If it goes easy on Transnet and Eskom will it activate the same clause to its own benefit?
Over the past few days the credibility of the National Treasury has been severely undermined by its chaotic approach to the process of granting Eskom exemption from the disclosure provisions of the Public Finance Management Act (PFMA).
On March 31 finance minister Enoch Godongwana signed a gazette apparently exempting Eskom from the “disclosure of any irregular expenditure and fruitless and wasteful expenditure that occurred during the financial years in the annual report”. This sought to mirror the concession granted to Transnet in 2022. In lobbying for that exemption Transnet argued that the continued disclosure of historical irregularities in the financial statements contributed to audit reports being qualified, and was creating intractable problems. ..
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