Gi­gaba’s state­ment on PIC strife dis­missed as ‘spin’

Pretoria News Weekend - - NEWS - BALD­WIN ND­ABA

FI­NANCE Min­is­ter Malusi Gi­gaba’s call to re­veal the iden­ti­ties of com­pa­nies who ben­e­fited from the Pub­lic In­vest­ment Cor­po­ra­tion (PIC) in­vest­ment deals has been met with mixed feel­ings.

Yes­ter­day, Gi­gaba ap­peared an­noyed by con­tin­ual al­le­ga­tions of a planned plot to raid the gov­ern­ment em­ploy­ees pen­sion fund (GEPF), man­aged by the PIC, al­legedly with the aim of bail­ing out ail­ing state-owned en­ti­ties.

Some of these al­le­ga­tions were made by some of Gi­gaba’s fel­low cab­i­net min­is­ters. Deputy Pres­i­dent Cyril Ramaphosa made the lat­est call to pub­lic ser­vants to fight and and pro­tect the fund from be­ing looted.

Ramaphosa was ad­dress­ing the na­tional gen­eral coun­cil of the South African Demo­cratic Teach­ers’ Union (Sadtu) on Thurs­day.

It ap­pears that Ramaphosa’s di­rec­tive to Sadtu mem­bers and gen­eral pub­lic ser­vants has irked Gi­gaba, when he said: “The PIC is be­ing looked at with some dan­ger­ous eyes. And we say that is an im­por­tant in­sti­tu­tion that you as mem­bers of the union must safe­guard.”

Gi­gaba’s of­fice is­sued a state­ment say­ing the min­is­ter is con­cerned about the politi­cis­ing of the PIC while clar­ity has been given on the mat­ter.

“(Gi­gaba) has writ­ten a let­ter to the CEO and board of the PIC, re­quest­ing them to pro­vide a list of all its ben­e­fi­cia­ries… which he in­tends to make pub­lic.”

Gi­gaba has also asked Matjila and the board to con­duct a foren­sic in­ves­ti­ga­tion into any con­cerns of ir­reg­u­lar­i­ties at the as­set man­ager.

The DA, how­ever, has de­scribed Gi­gaba’s move as a “spin ma­chine”.

DA spokesman on fi­nance David Maynier said: “The truth is the min­is­ter’s ‘spin ma­chine’ is play­ing catch-up, des­per­ately try­ing to claim own­er­ship of pro­cesses that are al­ready un­der way at the PIC. ”

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