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Cosatu wants urgent meeting with Gigaba over PIC-SAA bailout claims

The federation says it doesn’t believe the minister's denial of reports that his department intends using R100 billion of pension funds held by the PIC to bail out SAA.

FILE: Minister Malusi Gigaba. Picture: Christa Eybers/EWN.

JOHANNESBURG - As various formations hit out at the National Treasury over allegations it wants to use public sector pensions to save ailing state enterprises, the Congress of South African Trade Unions (Cosatu) is calling for an urgent meeting with Finance Minister Malusi Gigaba.

The federation says it doesn’t believe the minister's denial of reports that his department intends using R100 billion of pension funds held by the Public Investment Corporation (PIC) to bail out South African Airways (SAA).

The minister issued a statement on Monday describing the claims as malicious.

On Sunday, PIC CEO Dan Matjila reportedly confirmed that there's attempt to remove him from his post in order to access almost R2 trillion in pensions.

Cosatu spokesperson Sizwe Pamla says they want to meet with Gigaba as soon as possible.

“We convened the meeting this morning where we have instructed our unions in the public service to write a letter to the minister, requesting a meeting. We want an urgent bilateral with the Minister of Finance because we no longer believe anything.”

Meanwhile, Treasury says those who continue to spread false information about the Finance Department asking the PIC for funds to bail out SOEs to be held to account.

An urgent meeting with the PIC has been called, scheduled to take place on Tuesday.

Matjila is expected to be asked by the minister where the information is coming from.

Spokesperson Mayihlome Tshwete says the media reports are distorted and the record needs to be set straight.

“The minister does not want to be caught in this 'she said, he said' situation and would rather call for a meeting where everyone can discuss the issues at hand. Naturally, we find these kinds of claims to be being alleged to have come from the PIC CEO quite alarming and scary.”

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