Finance Minister must clarify if raiding the PIC is Treasury’s ‘Plan B’
14 September 2017
The DA calls on Finance Minister, Malusi Gigaba, to clarify if National Treasury’s ‘Plan B’ is to raid the Public Investment Corporation (PIC) in order to save South African Airways (SAA).
National Treasury revealed in Parliament’s Standing Committee on Finance yesterday that the sale of the government’s shares in Telkom might not be the source of the proposed R10 billion bailout for SAA.
For this bailout to go ahead, Mogajane confirmed that National Treasury requires a special Parliamentary sitting before the end of this month to deal with a Special Appropriations Bill.
Mogajane confirmed this in Committee yesterday when he said that National Treasury will urgently approach Parliament to vote on the Bill. He was quoted saying that ‘We will have to appeal to Parliament for the possibility. If there is no possibility, we will have to look to Plan B.’