Today's Labour News

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samwu thumb medium80 78ANA reports that the SA Municipal Workers’ Union (Samwu) on Wednesday said that it was opposed to the plan by government to sell its Telkom shares, and was standing firm against the privatisation of state assets.  

Finance Minister Malusi Gigaba confirmed in Parliament during his Medium-Term Budget Policy Statement (MTBPS) that government would dispose of a portion of the state's Telkom shares to bankroll the embattled SA Airways (SAA).  Gigaba said government would have the option to buy back the shares at a later stage, but was going ahead with the sale to recapitalise the airline to prevent it defaulting on debt payments.  Samwu general secretary, Simon Mathe, said that they noted “with great concern" the pronouncement by Gigaba and added that the union was “vehemently opposed to the plan by government to sell its shares of Telkom.  Telkom is one of the best state assets which has been performing better, and as such it does not make sense that anyone would even think of selling."  Mathe said Samwu remained opposed to the privatisation of state assets.

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