"It's not clear why there should be a focus on PIC" - Carrim

Earlier this month, Finance Minister Malusi Gigaba requested a forensic audit into Public Investment Corporation’s (PIC) investment contracts. Parliament’s standing committee on finance has questioned the rationale behind this investigation.

Yunus Carrim, Chairperson of Parliament's Standing Committee on Finance says that it is unclear why Gigaba requested this investigation.

If you look at the PIC, for the last 10 years or more I think they've received an unqualified audit. And this year, 2017 they were given a special award for their by their Ag fro their clean audit.

Yunus Carrim, Chairperson of Parliament's Standing Committee on Finance

They have by any measure performed extremely well. They have contributed to socio-economic transformation, including deracialisation. They received numerous domestic for their performance. So its not clear to us why their should be a focus on the PIC.

Yunus Carrim, Chairperson of Parliament's Standing Committee on Finance

Carrim says that there may be reason to investigate the PIC, but to be fair to them, they have released their unlisted investments after probed by the committee.

We are not saying that the minister shouldn't carry out certain investigations. We don't know enough to tell. What we want to know about him is what is the reason for it and what are the terms of reference.

Yunus Carrim, Chairperson of Parliament's Standing Committee on Finance

Carrim says that these investigations had to be in the public interest to be carried out, according to the regulatory framework.

Read: ‘Gigaba licking his lips at prospect of getting hold of PIC pension funds’

Listen to the full interview below:


This article first appeared on 702 : "It's not clear why there should be a focus on PIC" - Carrim


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