DA rejects Cosatu’s proposal to clear half of Eskom’s debt

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The Democratic Alliance (DA) says it out-rightly rejects Cosatu’s proposal to ask the Public Investment Corporation to avail R254 billion to clear half of Eskom’s debt.

The DA says it will soon write to Finance Minister Tito Mboweni and CEO of the PIC Vuyani Hako regarding the issue.

It says Mboweni and Hako should publicly reject the proposal because it would result in billions of rands in state employee pension funds being redirected to bail out a collapsing and defunct Eskom.

Cosatu’s conditions of this bailout proposal are that Eskom should not be privatised.

Cosatu also says no jobs should be lost and that the state should take a lead on renewable energy.