Nene was consulted on PIC – Treasury

THE NATIONAL Treasury has rejected claims by the DA that it did not consult with Finance Minister Nhlanhla Nene before tabling its stance on the amendments to the law governing the Public Investment Corporation (PIC).

Chief of legal at the Treasury, Empie van Schoor, told Parliament yesterday that they consulted with Nene before making submissions on the DA’s Private Member’s Bill on the PIC.

Van Schoor said before they came to Parliament they consulted with Nene. David Maynier of the DA said the Treasury had made a U-turn and was objecting to a clause promoting transparency in the PIC Bill.

Maynier tabled a Private Member’s Bill early this year and made several proposals on the legislation governing the PIC.

He wants the PIC to be transparent in its investments.

During discussions in the standing committee on finance yesterday, Maynier wanted to know if Nene had seen Treasury’s submission. Maynier said they wanted all investments made by the PIC to be made public. He said it was surprising that the Treasury now objected to such transparency.

Van Schoor said before they came to Parliament they briefed Nene about their presentation to the standing committee. She said the finance minister gave them the go ahead to present the document.

Maynier said the Treasury was overturning the work done by former deputy finance minister Mcebisi Jonas two years ago to make public investments made by the PIC.

The committee said it wanted to finalise the bill in the next few months.