NEWS & ANALYSIS

Govt must be prevented from exposing GEPF to plundering – Anton Alberts

FF Plus MP says Gigaba says he can't guarantee that govt will not make use of PIC funds to capitalise SOEs

Government must be prevented from exposing the Government Employee Pension Fund to plundering

30 August 2017

The possibility that the government may use money from the Public Investment Corporation (PIC) to bail out struggling state-owned enterprises like SAA, can have disastrous consequences for the Government Employee Pension Fund and it must be prevented at all costs, says Adv Anton Alberts, FF Plus chairperson.

According to media reports, the Minister of Finance, Malusi Gigaba, told Cosatu at a meeting yesterday that he cannot guarantee that the government will not make use of the PIC’s funds to capitalise state-owned enterprises and ‘other projects’.

Adv Alberts says that the FF Plus will do everything in its power to oppose this and will encourage other political parties and civil organisations to co-operate in this regard.

“The government needs to realise that the funds do not belong to the state, but to the members of the funds. The funds are not a piggybank that can be used to replenish state-owned enterprises’ coffers just so they can be plundered once more.

“It is becoming increasingly clear that political parties and civil organisations will not put up with this unrestrained plundering any longer. The Minister can be assured that officials will contest any attempts at exposing their pension money to plundering in court,” says Adv Alberts.

Issued by Anton Alberts, FF Plus chairperson and parliamentary spokesperson: Finance, 30 August 2017