During his SONA address, President Cyril Ramaphosa promised the nation that he would publish the Mpati Commission Report into alleged impropriety at the PIC within days. The writer asks: "What is in the report that Ramaphosa appears to be so scared about?" Photo: Sumaya Hisham/Reuters
During his SONA address, President Cyril Ramaphosa promised the nation that he would publish the Mpati Commission Report into alleged impropriety at the PIC within days. The writer asks: "What is in the report that Ramaphosa appears to be so scared about?" Photo: Sumaya Hisham/Reuters

If Ramaphosa can’t meet his commitment on the PIC Report, what of the R160bn wage bill reduction?

By Alf Lees Time of article published Mar 4, 2020

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CAPE TOWN – Media reports that President Cyril Ramaphosa received the Mpati Commission Report into the PIC in December 2019 and handed the report to the PIC in February 2020 but has still failed to table the report in Parliament indicate that President Ramaphosa has acted in bad faith.

During his State of the Nation Address (SONA) address, Ramaphosa promised the nation that he would publish the Mpati Commission Report into alleged impropriety at the PIC within days. 

He said: "I have received a detailed and voluminous report on the Commission of Inquiry into the Public Investment Corporation. I will make it available to the public together with a plan on taking the findings and recommendations forward in a few days."

Two and a half weeks have now passed and while the PIC appears to be acting on the contents of the report by dismissing its executive head of listed investments, Fidelis Madavo there has been no tabling of the report by President Ramaphosa.

What is in the report that Ramaphosa appears to be so scared about? Yet another scandal involving the ANC, more particularly members of his hugely compromised cabinet?

The PIC has been under a cloud since 2015 when the DA forced the then Minister of Finance to publish the full details of the PIC unlisted investments. This list exposed the “investment” in Independent Media … owned by Dr Iqbal Survé, a close ally of Jacob Zuma, the former and disastrous ANC president of SA.

The members of the Government Employees Pension Fund have suffered huge losses because of bad PIC investments. 

Now COSATU wants to put a further R250 billion of hard-earned pensioner money at risk with yet another mad scheme and hugely risky investment in Eskom to compensate for ANC cadre corruption and complete maladministration that has brought Eskom to its knees.

I have written to Cyril Ramaphosa to urge him to meet his commitment made to the nation on the 13th of February 2020 to release the Mpati Report into the PIC. 

If Ramaphosa can’t even meet this simple commitment, how on earth is he ever to meet the R160 billion public service wage bill reduction commitment made in his 2020 Budget by Tito Mboweni, the Minister of Finance?

Alf Lees is a DA member of the Standing Committee on Public Accounts.

BUSINESS REPORT

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