Alister Chabi who is an Actuarial Scientist testifying at the State Capture Commission says the R15.9 billion increase of Transnet’s 1 064 locomotives contract was unjustifiable.
Chabi was commissioned by MNS Attorneys to test reasonability of the increase of the 1 064 locomotives contract from R38 billion to R54 billion.
DCJ states that today’s concept is not so easy to follow and therefore he says what would help is that Chabi should tell him what the general principles are before continuing with his testimony.#StateCaptureInquiry
— State Capture Commission (@StateCaptureCom) November 27, 2019
He says the 41% increase in the estimated total value of the contract was unreasonable.
Commission resumes, on the stand currently is Mr Chabi and he will be sharing his testimony before the commission.#StateCaptureInquiry
— State Capture Commission (@StateCaptureCom) November 27, 2019
The then board of Transnet was requested to approve the increase of 10 64 contract by former Transnet CEO Brian Molefe.
