Special Appropriation Bill to bail out struggling SOE’s

SABC News Tito Mboweni 1 - Special Appropriation Bill to bail out struggling SOE’s

The Finance Minister Tito Mboweni says he plans to introduce a Special Appropriation Bill in Parliament on additional funding for Eskom on July 23.

However he was silent on the amount that he is considering giving the power utility. Mboweni says that state arms manufacturer Denel, South African Airways and the SABC will also receive funds from a contingency reserve – but with terms and conditions.

Mboweni was delivering his department’s budget vote speech in Parliament on Thursday night.

“But I must emphasise that this additional government support cannot be a blank cheque to these state owned enterprises… we really and truly cannot go on like this. A broad strategic framework in the form of a green paper which will culminate in a white paper and will be published with among others.”

 

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