EDITORIAL: Plotting a plan for the PIC’s future
The testimony by Daniel Matjila describes the corrosive effect of too much political meddling on the organisation’s functioning
The first two days of Daniel Matjila’s testimony at the commission of inquiry into the Public Investment Corp (PIC) have reinforced the idea that SA would benefit from less political meddling in its state entities. While the government has every right to exercise oversight of the PIC, which invests public servants’ savings, the testimony by Matjila (and others over the past seven months) describes the corrosive effect of too much political meddling on the organisation’s functioning.
One of the issues being probed at the inquiry has been the tradition of appointing the deputy minister of finance as the PIC chair. It is the only public agency at which this is the practice...