Fedusa could withdraw investment for govt employees in PIC

The federation says Finance Minister Malusi Gigaba’s latest intervention regarding the PIC is only to destabilise the institution.

FILE: Finance Minister Malusi Gigaba speaking at his first media briefing  in Pretoria. Picture: EWN

JOHANNESBURG – Fedusa says it will urgently consult all its structures and other trade union federations, including Cosatu, to review and possibly withdraw their investment for government employees in the Public Investment Corporation (PIC).

The federation says Finance Minister Malusi Gigaba’s latest intervention regarding the PIC is only to destabilise the institution and find any justifiable grounds to replace its executive leadership.

The minister has instructed the PIC and its board to conduct a forensic investigation into any concerns of irregularities at the asset manager.

The trade union says Gigaba has been one of the central architects of the state capture project since November 2010, when he was appointed minister of Public Enterprises and contributed to the collapse of Transnet, Eskom and Denel.

Fedusa general secretary Dennis George says: “It was also Mr Gigaba that played a role in these state-owned enterprises when he was minister of Public Enterprises. We know the role he has played.”

(Edited by Shimoney Regter)