DA, Saftu warn Gigaba and co to keep hands off PIC funds

The SA Federation of Trade Unions (Saftu) and DA have both warned the Finance Minister and his deputy Sfiso Buthelezi to stay away from the Public Investment Corporation (PIC).

This comes amid reports that Malusi Gigaba is using Treasury to pressurise the PIC to provide millions to bail out struggling state-owned companies (SOEs).

Read: Is SAA R10 billion coming from the PIC?

Saftu general-secretary Zwelinzima Vavi says there is a lack of trust between the public and the Finance Ministry.

Vavi argues that Treasury is facing a crisis of confidence, due to Gigaba's links to state capture and his dubious relationship with the controversial Gupta family.

None of us trust the Minister of Finance and his deputy.

Zwelinzima Vavi, Saftu general-secretary

Also read: SACP threatens nationwide shutdown if Molefe takes over PIC

DA’s shadow deputy finance minister Alf Lees says Gigaba and Buthelezi plan to raid the pensions of millions of government employees and pensioners.

Lees maintains that it is unethical to use the hard-earned pension funds of public servants to to rescue the failing SOEs such as SAA once again.

Take a listen to Vavi and Lees explore the issues at hand:


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