The Public Investment Corporation (PIC) has disputed media reports that it is to bail out embattled power utility Eskom. In a statement the PIC says it has not been consulted regarding the proposed Eskom funding solution.
The PIC manages in excess of R2 trillion of government employee pension funds that the Unemployment Insurance Fund, and the Compensation Commissioners’ Fund.
The corporation says should it receive a proposal to further invest in Eskom, it will follow its governance process as outlined in the investment mandate to make a decision.
It says it is ready to engage with various stakeholders to find a suitable and sustainable solution for the risk that Eskom poses.
