Firing Gordhan would 'destroy economy' - Manuel

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JOHANNESBURG, 24 August 2016 -Former Finance Minister Trevor Manuel has described as unconstitutional, the Hawks' move to summon finance Minister Pravin Gordhan. He spoke to senior anchor Iman Rappetti in studio. ?

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JOHANNESBURG - Former Finance Minister Trevor Manuel has described as &39;unconstitutional&39;, the Hawks&39; move to summon finance Minister Pravin Gordhan.

He spoke to senior anchor Iman Rappetti in studio about the probe into the so-called SARS Rogue Unit.

 

 

 

Manuel says President Jacob Zuma has a constitutional responsibility to intervene in the so-called SARS wars.

 

 

He said he believed this move would do more damage than the firing of former Minister of Finance, Nhlanhla Nene.

"Removing Gordhan will destroy this economy," Manuel said.

 

 

The Hawks police unit asked Gordhan and other former officials at the South African Revenue Service (Sars) to report on Thursday in relation to contravention of surveillance regulations, fuelling speculation of a plot to oust him.

Gordhan, however, has refused to present himself.

"The next move is actually up to the head of state to call them (Hawks) in and say: if you have compelling evidence let&39;s see what it is," Manuel told eNCA.

 

 

Meanwhile, two financial institutions have also criticised the move by the Hawks against Gordhan

The Banking Association South Africa also says any action will have serious repercussions for the economy.

The group is calling on the government and the presidency to resolve the issue.

It adds that the investigation sends a negative message to ratings agencies, investors and business.

Additionally, the Business Leadership South Africa also wrote an open letter to the president, criticising the investigation.

The group believes it lacks legitimacy and credibility and says that the public protector should conduct the investigation.

BLSA also emphasized that this may lead to a credit downgrade. - Additional reporting Reuters