Public pension is now in the vision of government. Finance Minister, Tito Mboweni told reporters on Wednesday that it’s a good idea to transfer some of Eskom’s debt to the Public Investment Corporation.
The minister said that the public and private sector pension funds should be involved.
“If we go the pension route, it must be all of us. It cannot be only public servants’ pensions, it must be all pensions, ”Mboweni said.
“Other institutions can look at the option,” he added.
Public Enterprises Minister Pravin Gordhan and Cosatu Parliamentary Coordinator Matthew Parks also participated in the discussion.
Gordhan stressed the importance of getting the industry going.
“Whether it’s Transnet, Eskom, or SAA, all of them were operationally damaged because the emphasis was on theft rather than making these entities as efficient as possible,” he said.
Once entities are run efficiently, they can make money and become less dependent on the state treasury, he added.
Commenting on the suggestion that pension fund money should be used to address Eskom’s debt, Gordhan asked stakeholders to engage in meaningful debate about finding creative solutions, and not to divert their attention by prescribed assets that an option has not been proposed.
