Today's Labour News

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picFin24 reports that the Members of Parliament (MPs) heard on Tuesday that the Public Investment Corporation (PIC) would table a revised remuneration policy at the next Annual General Meeting with the shareholder - Treasury - in November.  

Executives of the investment corporation, including chairperson Reuel Khoza and acting CEO Vuyani Hako, were briefing Parliament's standing committee on finance on the 2018/19 financial performance.  The matters raised by MPs included staff members holding pickets over caps on bonuses, as imposed by Treasury.  Earlier this month members of the National Union of Public Service and Allied Workers, who work at the PIC, held lunchtime demonstrations at its head offices in Pretoria over poor governance and leadership of the organisation.  According to the union's general secretary, Yongama Mabece, the organisation's remuneration policy was not being followed and this was a governance risk.  The PIC's Hako confirmed that there had been engagements with Finance Minister Tito Mboweni about the bonus caps.

  • Read the full original of the report in the above regard by Lameez Omarjee at Fin24


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