Avail PIC funds to pay off Eskom debt - Cosatu

Congress of South African Trade Unions (Cosatu) is proposing that the Public Investment Corporation (PIC) funds be used to pay for Eskom debts.

However, the labour federation says the bailout must come with the assurance that Eskom will not be privatised and no jobs will be lost.

The proposal was made the African National Congress Lekgotla and the party is endorsing the idea.

Cosatu spokesperson Sizwe Pamla says the PIC has already given Eskom more than R95 billion.

This is not going to affect workers because they have defined benefits when it comes to the PIC and that is insured to the national treasury.

Sizwe Pamla, National spokesperson - Cosatu

The entire economy is dependent on whether we can keep the lights on or not. The PIC and UIF survival are dependent on whether workers can keep contributing or not.

Sizwe Pamla, National spokesperson - Cosatu

Pamla says before this can be done there should be a forensic audit of the contracts at Eskom.

The municipalities and everyone else who owes Eskom has to be forced to pay. They also need to reduce the exorbitant perks and salaries of senior managers.

Sizwe Pamla, National spokesperson - Cosatu

Listen to the full interview below...


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