Capetown-140916-Dr Daniel Majtila the Chief Financial officer of Public investment Corporation during the PIC breakfast meeting in Park Inn by Radison in capetown -Picture by Bheki Radebe

Johannesburg- National Treasury has denied there are plans to oust Public Investment Corporation (PIC) chief executive Dr Dan Matjila in a ‘plot’ to hijack the institution at a Friday meeting.

This comes as political parties called on Deputy Minister of Finance Sfiso Buthelezi to protect “the integrity” of the PIC; an institution that has investments of R1.8 trillion in the capital market on behalf of the Government Employees Pension Fund (GEPF).   

On Thursday, The Star reported on an alleged coup to take place at a PIC board meeting on Friday, called by the institution's deputy chairperson Xolani Mkhwanazi, which is expected to oust Matjila.

The plan, according to sources, was for the incumbent chief executive to leave and for an alleged Gupta appointee to take over.

The controversial family’s lawyer, Gert van der Merwe, said there was no truth to these claims.

READ MORE: Strong push to block alleged Gupta bid to hijack PIC

His views were echoed by Treasury, which acknowledged that a meeting will take place, but said the meeting is scheduled to “get clarification from him (Matjila) on internal matters”.

“There are no preconceived plans whatsoever to remove Dr Matjila”, the statement read.

Meanwhile, DA spokesperson on finance David Maynier called on Buthelezi “to act to protect the integrity of the institution and to protect the savings of pensioners”.

The Freedom Front Plus’s spokesperson on finance, Advocate Anton Alberts, also urged the Finance Ministry to protect funds managed on behalf of the GEPF.

These calls follow those made by both Cosatu and the EFF on Thursday on this issue.