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Department of Public Enterprises director general Kgathatso Tlhakudi said the department s budget is preparing for a substantial decrease to its annual budget.
The strategic and financial management of SA s SOEs has long been a key weakness of government as parastatals currently sap financial resources from the fiscus.
He said, excluding payments for financial assets, compensation of employees was the department s largest cost driver.
Department of Public Enterprises (DPI) director general Kgathatso Tlhakudi said the department s budget is preparing for a substantial decrease to its annual budget.
Government is trying to cut costs and part of this process involves the PIC streamlining SA s troubled state-owned entities (SOEs).
SAA has been unable to produce an annual report and annual financial statements for the past three financial years.
If all goes well, South African Airways could exit its business rescue process by the end of February.
On Wednesday, Public Enterprises Minister Pravin Gordhan and his department provided an update on progress made with SAA s business rescue process.
Gordhan said the interim SAA board will remain in place for the next few months.
If all goes well, South African Airways (SAA) could exit its business rescue process by the end of February this year - in other words, in a few weeks time.
18 times government misled SA about Eskom and rolling blackouts
By Opinion
Ghaleb Cachalia MP, DA Shadow Minister Public Enterprises
It has been 15 years since Eskomâs rolling blackouts brought inconvenience and economic decline to South Africa. And, 15 years of repeated empty promises by an incapable ANC government vowing to fix this crisis.
Today, the Democratic Alliance (DA) will expose the 18 times the government misled South Africans on its efforts to turn things around at Eskom and to bring an end to rolling blackouts.
November 2007- Eskom says Medupi and Kusile will be completed by 2015 and will play an important role in solving South Africa s energy challenges. Current forecasts indicate that Medupi s completion date has been extended to 2021, with Kusile expected to be completed in 2023. Even so, it is unclear if these new completion dates will be met.