BusinessLive reports that Cosatu has called for a moratorium to prevent the use of Public Investment Corporation (PIC) funds to finance any government institution.  

The labour federation said on Tuesday that it would also explore the possibility of "depoliticising" the PIC by stripping the finance ministry of the powers to unilaterally appoint board members of the fund manager.  Cosatu indicated that it had requested an urgent meeting with Finance Minister Malusi Gigaba to express its "grave concern" on reports that the "Gupta network" was trying to lay its "grubby hands" on workers’ retirement savings at the PIC.  The federation added that it would not allow the PIC to be "looted" the same way that Eskom and other state-owned enterprises had been.  "We are also concerned to learn that Gigaba is going ahead with his attempts to use workers’ retirement savings to bail out the captured state-owned enterprises," said Cosatu general secretary Bheki Ntshalintshali.

• Read this report by Theto Mahlakoana in full at BusinessLive

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