The Mercury

Landmark economic decisions will benefit consumers


HOW ironic is it to read Finance Minister Pravin Gordhan’s words with reference to the possible appointmen­t of a European to the Internatio­nal Monetary Fund.

He talks about “democracy, transparen­cy and good governance” in choosing the IMF managing director. Trevor Manuel himself stated that only merit should be taken into considerat­ion for the appointmen­t.

Why then do these ANC members continue to promote BBBEE (broad-based black economic empowermen­t) to the detriment of hundreds of white and Indian youths?

M SOUTHGATE TWO significan­t decisions made last week have significan­t impact on the lives of the people of our country.

First, the government’s decision not to bid for the 2020 Olympics was based on its strategy to prioritise key areas that focus on job creation and service delivery.

Second, the Competitio­n Tribunal’s approval of the R16.5 billion deal with conditions of Walmart’s purchase of 51 percent of Massmart will benefit consumers through lower prices, new promotions, wider choices, an injection of over R1bn into the economy in the next few years and the promise of a R100 million fund to support local suppliers.

There were some misgivings in the labour sector regarding job losses.

However, SA functions in a global economy and is committed to internatio­nal trade agreements. The local market cannot forever be protected from internatio­nal competitio­n.

The above events are most welcome in the public interest, and the benefits that accrue will be evident in time.


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