Unlawful Strategic Fuel Fund Sale must be reversed; Minister Pettersson suspended
26 September 2016
The report from the Auditor-General, in the Central Energy Fund’s 2015/16 AFS, into the sale of the Strategic Fuel Fund’s (SFF) fuel stock has found glaring irregularities and has been declared by the A-G to be unlawful.
The DA will write to the Minister of Energy, Tina Joemat-Pettersson, demanding that she reverse this dubious transaction immediately. This will prevent the state from buying back fuel for the SFF at higher prices and wasting billions of public money through a loss making exercise.
The DA will also write to President Jacob Zuma, urging him to suspend Minister Joemat-Pettersson until an investigation conclusively exonerates her from any wrong doing.
This unlawful sale generated only R3.9 billion in revenue as opposed to the R5 billion originally claimed by the SFF senior leadership.