PIC statement raises more questions
29 May 2020
The Democratic Alliance (DA) is concerned that the statement issued this morning by the Board of the Public Investment Corporation (PIC) is not entirely honest and transparent.
Firstly, if the PIC has indeed prepared an internal document which proposes a R90 billion Eskom debt-for-equity swap plan, then this document should be publicly released immediately. This "proposal” is nothing more than a euphemism for writing off this Eskom debt.
There is no hope of the PIC recouping this money.
Even the rumour of this proposal has already caused distress among other Eskom debt holders, the debt market, and of course among pensioners.