Pensions may fund recovery
ANC proposes greater financial intervention to revive economy after pandemic
31 May 2020 - 08:03
An ANC document on economic reconstruction, leaked to Business Times, is proposing using private pension savings and direct financial interventions by the Public Investment Corp (PIC) and the Reserve Bank to "fund long-term infrastructure and capital projects" to help revive the economy after the Covid-19 crisis.
It calls for more state intervention across all sectors, including speeding up the creation of a state-owned bank, establishing a state-owned pharmaceutical company to help decrease the price of medicines, and more interventions in mining, manufacturing, energy and other sectors...
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