The process to pave the way for social partners to give government the go-ahead to tap into the Government Employees’ Pension Fund as a last-ditch attempt to rescue Eskom is gathering steam, with trade federation Cosatu announcing that the process currently hinges on essential details being ironed out between invested partners.
If Eskom collapses, all workers’ jobs and pensions will be destroyed. Our economy and every facet of our lives are based on Eskom.The proposed rescue plan entails “a thorough diagnostic of what contributions, both financially and in terms of responsibility, different social partners would each be contributing” towards the mammoth task of turning around the fortunes of the ailing power utility.
“The high tariffs are already having a massive impact on the economy and workers. Load shedding is costing the economy R2 billion a day. Eskom is too big to be allowed to fail,” said Parks. However, a spanner was thrown into the works following Treasury’s announcement of a proposal to trim R160.2 billion from the public wage bill over three years. The proposal has been met with disdain and unions are accusing government of targeting the very workers who are attempting to help rescue ailing state-owned enterprises.
However, Parks reiterated that “the only way to save Eskom is through a social compact where all parties, ranging from government and business to labour, contribute, compromise and sacrifice”.
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