Today's Labour News

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petrolpumpNews24Wire reports that government will in two weeks’ time announce a package of economic measures to cushion the public from the crippling effects of high fuel price hikes and the recent VAT increase.  

President Cyril Ramaphosa said on Friday that a panel made up of various stakeholders from the economic cluster had been tasked with drafting the package.  He said government acknowledged that the people were reeling from the effects of fuel price increases.  “We will be announcing a package of measures to ease the burden of the price increase, this would include the finalisation of the VAT exempt products,” Ramaphosa indicated.  He urged retailers and the transport sector to hold off price increases while the plan was being drafted.  The Minister of Finance, Nhlanhla Nene, said the panel had met on Thursday night and was due to meet again on Friday.  He commented:  “I think everyone realises that the people are suffering, therefore there is a need to address the matter with urgency.”

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