EDITORIAL: Fixing SA’s ailing parastatals
The government's intentions may be noble, but its puzzling new bill raises many questions
Conceptually, the much-awaited National State-Owned Enterprises Bill is appealing as a welcome first step towards fixing hundreds of SA’s ailing state-owned enterprises (SOEs) which are causing this economy to implode. However, the bill, which is being rushed through the legislative process, raises more questions rather than answers.
Last Friday, Pravin Gordhan gazetted the bill, which will create a 100% state-owned holding company to house yet-to-be-identified SOEs. The stated aim is to improve the management of the SOEs, separate the government’s role as owner from its policy and regulatory functions, and reduce political meddling...
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