Na­tional Trea­sury drafts Ap­pro­pri­a­tion Bill

Swazi Observer - - BUSINESS -

JO­HAN­NES­BURG - Na­tional Trea­sury has drafted a spe­cial Ap­pro­pri­a­tion Bill to re­cap­i­talise SAA.

The depart­ment is hop­ing that the draft leg­is­la­tion can come be­fore Par­lia­ment be­fore it goes on re­cess.

An Ap­pro­pri­a­tion Bill au­tho­rises the ex­pen­di­ture of gov­ern­ment funds.

The na­tional car­rier will need more than R1­bil­lion in work­ing cap­i­tal un­til March 2018.

Ear­lier this year, Trea­sury bailed out SAA with R2.2 bil­lion to pay Stan­dard Char­ter.

Trea­sury’s di­rec­tor-gen­eral on Wed­nes­day told Par­lia­ment that the air­line is in con­tin­u­ous ne­go­ti­a­tions with Citi Bank and other lenders to get loans ex­tended. eNCA

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