Today's Labour News

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picBusinessLive reports that SA’s main labour federations and trade unions have agreed on a number of measures to safeguard funds managed by the Public Investment Corporation (PIC).  

The resolutions, which were presented to Parliament on Tuesday, could be developed into a bill by the standing committee on finance before the end of 2017 after it received a buy-in from all parties in the committee.  "Consideration should be given to engaging with National Treasury on the processing of the legislative amendments," read the committee meeting’s resolutions.  These include the representation of trade unions on the Government Employees Pension Fund (GEPF) board on the PIC board as well.  Labour has been up in arms for months following suggestions by Finance Minister Malusi Gigaba that GEPF funds managed by the PIC could be used to bail out struggling state-owned enterprises such as SAA.  It also became clear, however, that labour would have to wait for another day to hear if its opposition to the deputy finance minister chairing the PIC board would also be incorporated into the amandments that have been favourably received.

  • Read this report by Theto Mahlakoana in full at BusinessLive
  • See too, Trade unions take stand against appointing politician as PIC chairperson, at SA Labour News
  • And also, Staatspensioenfonds verplig om inligting te verskaf aan Solidariteit, at Maroela Media

Get other news reports at the SA Labour News home page