MPs slam sale of SA's oil stocks as 'heinous acts' of corruption by ANC

The sale of South Africa’s crude oil reserves by the Strategic Fuel Fund valued at about R6 billion has been the subject of a criminal investigation by the Hawks and an internal probe.

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CAPE TOWN - Members of Parliament have slammed the sale of the country’s strategic fuel stock, calling it one of the most “heinous acts” of corruption by the governing party.

The sale of South Africa’s crude oil reserves by the Strategic Fuel Fund valued at about R6 billion has been the subject of a criminal investigation by the Hawks and an internal probe.

The National Assembly on Tuesday considered the portfolio committee on Mineral Resources and Energy’s report following its oversight visit to the Western Cape, where it inspected the fund’s facilities.

MPs said that the sale of the country’s fuel stock by the Strategic Fuel Fund was found to have been illegal and would cost the fund billions of rand.

Democratic Alliance (DA) MP Kevin Mileham said that committee members had been unable to get information from the Strategic Fuel Fund to be able to hold people accountable, including former Energy Minister Tina Joemat Pettersson.

"To date, we have not received it, we are therefore unable to follow up on the consequences that should arise from this invalid, illegal and irregular sale. And the person who ultimately signed on it still sits on these benches as the chairperson of the Portfolio Committee on Police. Is it any wonder that nobody has been arrested yet?"

Economic Freedom Fighters (EFF) MP Phiwaba Madokwe said that the sale of the fuel stock was questionable and corrupt.

"The sale of the country's strategic fuel portfolio to private entities has got to be one of the most heinous acts of corruption perpetrated by the ruling party in the energy sector, an arrogant display of dubious corrupt activities that the perpetrators knew would go unpunished," he said.

Members of the committee adopted the oversight report which noted how the fund’s facilities were poorly managed and rundown.