PSA wants Gigaba to disclose composition of PIC board

File: The Public Servants Association wants finance minister Malusi Gigaba to disclose the composition of the Public Investment Corporation board. Photo: GCIS

PRETORIA - The Public Servants Association wants finance minister Malusi Gigaba to disclose the composition of the Public Investment Corporation board.

The union has given Gigaba until Monday to accede to its request made in September.

This is in line with the PIC Act which provides for representatives of depositors with the PIC to be represented at its board.

READ: PSA feels 'betrayed' by PIC's R5bn lifeline to Eskom

The ultimatum comes days after the PIC offered a R5-billion lifeline to Eskom, to enable the entity to pay salaries and creditors.

It is not clear if the loan will accrue any interest or it is a board decision by the government’s pension fund.

The PSA says it expects a report on the loan by February 15.

“If we don’t get feedback we’ll be taking legal action, if we don’t the feedback that the PIC  promised us next week on how this money is going to be paid back we are definitely going to get legal action as well, because then that money was loaned to Eskom under false pretences,” said PSA Leon Gilbert.

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