Minister in the presidency Mondli Gungubele said government is focused on adding as much new generation capacity to the grid as possible, as quickly as possible.
Browsing: Enoch Godongwana
National treasury is finalising a plan to take over a portion of Eskom’s R396-billion debt as part of a process to place the struggling company on a sustainable footing.
The UK is considering guaranteeing at least $1-billion of South African debt as part of a deal designed to cut the nation’s reliance on coal.
Government is proposing extending a cut in the general fuel levy until early August to help shield consumers from high fuel prices linked to the Russia-Ukraine conflict.
The price of diesel will jump again this week, adding further impetus to inflation, which is threatening to burst above the Reserve Bank’s 3-6% target range.
Government plans to restructure Eskom’s debt before elections in 2024, and will only provide additional support if the company sells assets and cuts jobs, finance minister Enoch Godongwana said.
South Africa used a revenue windfall to cut corporate taxes to revive a coronavirus-ravaged economy and set more ambitious targets to reduce debt and fiscal deficits.
Eskom is considering selling distribution assets as prospects of the government taking over about half of its R392-billion obligations dim, sources said.
Government is considering taking over part or all of Eskom’s R392-billion in debt, the International Monetary Fund has disclosed.
South Africa is readying a mandatory vaccine policy and is set to implement it early next year, a senior labour union official said.