Business Day

Sell state-owned entities

- Dr Peter Baker Parktown North

SA is sliding down the slippery slope towards the morass of failed-state status and we have no one to thank but the ANC and its raping and pillaging of the economy for party and personal gain. [It has] certainly not run SA for the benefit of the majority of the population of all persuasion­s, colours, political affiliatio­ns or that other descriptiv­e term we seem so bent on — races. No, the ANC has put itself well before anything else, and President Jacob Zuma has said as much.

The current brouhaha over state-owned enterprise­s (SOEs) being bailed out again is a case in point. The ANC government is looking to loot the Public Investment Corporatio­n (PIC) of billions of rand to refloat ships that can never be salvaged while managed by ANC deployees who pretend to be competent to run multibilli­on-rand corporatio­ns. We all know most of the PIC money will filter into the corrupt pockets of the Zuptas.

The only real solution is to put 51% of South African Airways, Eskom, the SABC, Transnet and just about every other SOE on the market and sell them off to investors who can run them in a profitable and sustainabl­e fashion.

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