R59bn bailout for Eskom

CAPE TOWN. — The National Assembly has passed the Special Appropriation Bill, which aims to provide Eskom with a R59 billion bailout for the rest of this year and the next financial year.

The Bill must now be approved by the National Council of Provinces before it can be signed into law by the President. Debate on the bill saw opposition parties blame the ANC for state Eskom finds itself in, with some, like the EFF and the Freedom Front Plus, saying they could not support it. Wrapping up the debate, Finance Minister Tito Mboweni told the House that Eskom’s problems were not just financial.

“One of the key issues that we need to solve is by appointing the correct people to run Eskom. That’s what we need to do. We must appoint the correct board of directors, we must appoint a competent management team and we must then be in a position to hold the board of directors and the management team accountable for the operations of Eskom.” — Eyewitness News.

Source :

The Herald

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