More than 70 conditions before pension funds can be used to rescue Eskom

Organised labour has given the presidency, the National Economic Development and Labour Council and Eskom more than 70 conditions that “have to be adhered to” before the unions can give government the go-ahead to tap into the Government Employees’ Pension Fund to help reduce the power utility’s debt.

In their proposal, the three unions are calling, among other things, on Eskom to make a commitment that “no workers will be retrenched; a comprehensive public audit will be undertaken on all Eskom contracts and expenditure; and all those who have looted from the utility must be arrested and their assets seized”.

“All parties – from government to labour, business and society – have to make a contribution and where necessary, a sacrifice for the sake of the national interest,” said Parks. “What we are proposing is that Eskom should be assisted to pay off at least R250 billion of its debt. Even this amount should not all be footed by the pension fund. Government and the private sector should cough up some of this amount and the balance would then be taken from the pension fund,” said Pamla.Narius Moloto, Nactu’s general secretary, said: “At the moment, Eskom is failing in a number of areas, including management, financial controls and corruption.

“At the end of the day, Eskom serves the whole nation. But as a federation we are not in support of money for an Eskom bailout being taken from the pension funds. What we are saying is that Eskom needs to be assisted, but government should get the money from elsewhere,” said Selematsela.

So the workers in a massively bloated SOE ESKOM don't want to back themselves and put their money where their mouth is with retrenchments and every time they strike but expect the public to?

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