Saftu slams PIC's Eskom bailout


FILE: Power lines and pylons set up to run electricity.

JOHANNESBURG - The South African Federation of Trade Unions (Saftu) has condemned the Public Investment Corporation&39;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&39;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&39; 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.