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UDM calls on govt to suspend PIC's Dan Matjila, disband board

This comes after the terms of reference for a commission of inquiry into allegations of impropriety at the Public Investment Corporation (PIC) were published in the government gazette.

FILE: Public Investment Corporation (PIC) CEO Dan Matjila. Picture: Public Investment Corporation

JOHANNESBURG – The United Democratic Movement (UDM) has reiterated its call for government to suspend the Public Investment Corporation (PIC) head Dan Matjila.

This comes after the terms of reference for a commission of inquiry into allegations of impropriety at the PIC were published in the government gazette.

The UDM wants Matjila suspended despite reports by the Independent Media Group on Wednesday that he will be cleared of allegations that the PIC made a loan to a woman he was allegedly romantically involved with in a different inquiry ordered by former Finance Minister Nhlanhla Nene.

UDM leader Bantu Holomisa insists Matjila and others must step aside.

“Disband the board of the PIC and put in an interim board.”

Meanwhile, Parliament's standing committee on finance has welcomed President Cyril Ramaphosa's announcement of an inquiry into the PIC was long overdue.

Committee's chair Yunus Carrim says: “Well we obviously welcome it. Only yesterday, when we considered the annual report of the National Treasurer in Sars, the minister was there and we pleaded with him to speak to the president to do this quickly.”

The inquiry will be headed by Judge Lex Mpati, the former president of the Supreme Court of Appeal.

He will be assisted by former SA Reserve Bank Governor Gill Marcus and businessman Emmanuel Lediga.

(Edited by Leeto M Khoza)