eThekwini council scraps millions in interest on R50 million shortfall in public works debt

The eThekwini municipality’s ANC-led executive council scrapped a R7.4-million debt owed to the city by the KZN Department of Public Works on Tuesday .

The minutes from the previous meeting reflect Peer was in favour of not approving the recommendation but that “members of the ANC subsequently submitted a contrary view”. “The write-off is contrary to credit control and debt collection policy but it is recommended that interest be written-off in a once-off non-precedented basis,” the report that is supported by the ANC states.Last week Peer said the write-off would not happen and told the chamber the ANC caucus had agreed to this. “We are saying we are not accepting any form of write-off.

According to the City Treasury report tabled before the executive committee, Public Works budgeted R273 million to be paid in city rates in 2017/18, when in fact they were billed R323 million, leaving a shortfall of R50 million.Speaker William Mapena said the debt write-off must be seen in the context of the total bill paid.

Source: Loan Digest (loandigest.net)

Absolutely No Consequences. Ever.

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