psaFin24 reports that the Public Servants Association has called President Cyril Ramaphosa's decision to yet again extend the deadline for submission of a final report by the Commission of Inquiry into the Public Investment Corporation (PIC) "unjustifiable".  

The union wants the process to be expedited with urgency.  Last week, Ramaphosa agreed to extend the PIC commission of inquiry's deadline to submit a final report to 15 December 2019, after it was previously moved from 31 July 2019 to 31 October 2019.  The inquiry was established to investigate governance at the asset manager, after multiple scandals came to light in 2018.  In a statement on Monday, the PSA said the inquiry, chaired by Judge Lex Mpati, should have already provided its findings months ago and that the slow pace of judicial commissions of inquiry should not excuse a failure to treat the matter with urgency.  It added that continued delays in the commission would have a negative impact, not only on the economy, but on returns that could have been received if funds were recovered and invested.


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