Malusi Gigaba. Picture: BUSINESS DAY
Malusi Gigaba. Picture: BUSINESS DAY

Treasury and the Public Investment Corporation have rubbished reports that there were attempts to grab billions of rand from the corporation to bail out an embattled South African Airways or a plot to oust the corporation’s boss Dan Matjila.

Following a meeting between Finance Minister Malusi Gigaba and the PIC on Tuesday‚ Matjila said: “I must put it on record that I enjoy good support from the minister‚ I enjoy good support from the deputy minister‚ I enjoy good support from the Board of PIC and I can assure our clients that the PIC is on solid ground...

"We are focused on the work‚ so they can rest assured that their monies are safe‚" he said.

Matjila rejected a weekend report that asserted people wanted him removed so they could have easier access to the R1.9-trillion controlled by the PIC and that he had rejected a request for a R6-billion loan for SAA from chairwoman Dudu Myeni.

Treasury director-general‚ Dondo Mogajane‚ however‚ confirmed that there were engagements for PIC to increase its 8% stake in Telkom by buying government shares in Telkom to raise funds for the national airline.

“If we have to dispose of Telkom shares in way we thought would make sense‚ can we get the money that we needed at the time? The estimate was about R10-billion. The R1.8-billion that could have been made available was not going to be enough. So‚ that conversation is ongoing‚” he said.

Finance minister Gigaba said he was upset about being dragged into matters that involved the board when he was not a board member.

He said it was necessary for Treasury and PIC to come together and assure the pension holders not to fear about their assets.

“There is absolutely no truth to the allegations that there is a looting campaign out there that seeks to dip dirty hands into the R1.9-trillion of PIC…from time to time people will try to subject some of us to undue pressure to take decisions which favour them‚” he said.

- TimesLIVE

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