19 september 2019
Parliament has called on the ministers of public enterprises and finance to ensure that stringent conditions are in place for the additional R59 billion support for Eskom.
The additional funding is set out in the Special Appropriation Bill tabled in parliament on 23 July 2019.
The bill aims to:
• appropriate an additional amount of money for the requirements of the Department of Public Enterprises to assist Eskom Holdings SOC Limited with its financial obligations and to provide for matters connected therewith.
R59 billion will be appropriated out of the National Revenue Fund over the next two years, R26 billion in the current financial year and R33 billion for the 2020/21 financial year to “assist Eskom with its financial obligations”.
The bill stipulates that the finance minister may impose conditions on Eskom to be met prior to transfer of the funds and must impose conditions to be met by Eskom after the transfer of any part of the amount.
In a statement, the standing committee on appropriations indicated that the conditions must be presented to the committee prior to promulgation of the bill.
The committee also called for the rebuilding of Eskom to be a collective effort involving black-owned companies, black professionals, women and youth and for Eskom to brief it on current contracts which should be renegotiated.
The committee report on the adoption of the bill will be considered after the constituency period which ends on 7 October 2019.