Saftu slams PIC's Eskom bailout

File: The power utility needs the cash to cover its operational costs for the month. Photo: eNCA/Bianca Bothma

JOHANNESBURG - The South African Federation of Trade Unions (Saftu) has condemned the Public Investment Corporation's decision to loan Eskom R5-billion.

The power utility needs the cash to cover its operational costs for the month.

Saftu says the move is not prudent, given Eskom's history and current financial status.

It’s being investigated by the Hawks and a Parliamentary committee for fraud and corruption.

READ: PIC agrees to give Eskom R5bn for February

The union says the money to keep the lights on should not come from workers' pockets.

Saftu says employees should play a bigger role in managing their pension funds.

It says they should have a direct say in decisions to grant loans.

eNCA

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