CAPE TOWN – The PSA (Public Servants Association) is determined to “liberate” the Public Investment Corporation (PIC) from the “clutches of determined looters”. That was said by PSA deputy general manager Tahir Maepa when he announced on Friday that the union had given to respond to Finance Minister Malusi Gigaba until Monday to respond to requests the union has been making since September 2017.
The union wants to know why no “depositor” (worker or union) representatives were appointed to the PIC board by Gigaba. “It is clear so long as we are absent our members’ monies remain in danger,” Maepa said.
They also questioned how Government Employee Pension Fund (GEPF) monies, amounting to near R2 trillion, are invested came to a head recently with the Steinhoff collapse and the announced intention to provide a R5 billion bridging loan to Eskom
The union feels that as long as no union and worker oversight exists “our members’ monies remain in danger”. The current concern is that the union has been told that the all but bankrupt South Africa Airways (SAA) has made a new plea for funding and the arms maker Denel is also making considerations to an approach for bail-out funds.
The PSA has received no reply except the acknowledgement of receipt, and in November, the union approached their legal team.
“We have still not heard anything and so, on Monday, we go to court,” Maepa said.
Photo Credit- EWN