UDM calls for PIC board to be dissolved

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The United Democratic Movement is calling for the board of the Public Investment Corporation (PIC) to be dissolved, and for the PIC’s CEO, Dan Matjila to be suspended with immediate effect.

This follows President Cyril Ramaphosa’s decision on Wednesday to set up a Commission of Inquiry into allegations of impropriety at the PIC.

UDM leader Bantu Holomisa alleged earlier this year that various individuals and companies were involved in corruption at the PIC. Holomisa has welcomed the inquiry, but he believes further steps are needed.

“I guess the president has applied his mind when he decided to appoint a commission of inquiry. Definitely there must have been Prima facie evidence which led him to do so. The first thing that I would have done if I was him, I would dissolve the current board because it is going to be under investigation – their decisions and so on. Dissolve it and put an interim board and then suspend the CEO. Then you can have a fair inquiry.”

Former president of the Supreme Court of Appeal, Justice Lex Mpati will head a Commission of Inquiry.  According to the Gazette‚ the commission has to focus on the period from January 2015 to August 31 2018, but can look into any PIC-related matter.