UDM welcomes PIC inquiry

JOHANNESBURG - The United Democratic Movement says PIC's Dan Matjila should be suspended.

President Cyril Ramaphosa has appointed a commission of inquiry into alleged impropriety at the Public Investment Corporation (PIC).

READ: Ramaphosa appoints commission of inquiry into PIC

The corporation manages about R2-trillion worth of government pensions.

UDM leader Bantu Holomisa says the terms of reference will cover disturbing issues raised by the media.

READ: Holomisa asks court to suspend PIC boss Dan Matjila

The commission will be headed by former Supreme Court of Appeal, Judge Lex Mpati.

He will be assisted by former Reserve Bank Governor Gill Marcus and asset manager, Emmanuel Lediga.

The announcement was published in the Government Gazette.

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