CAPE TOWN – Members of Parliament and trade unions have warned government against using the country’s gold and foreign exchange reserves as a “slush fund”.
MPs, the Congress of South African Trade Unions and economists were taking part in public hearings on the Gold and Foreign Exchange Contingency Reserve Account Defrayment Amendment Bill on Friday. On Friday, economists and labour unions made submissions at public hearings during a joint meeting of the Standing Committee and Select Committee of Appropriations.
Standing Committee of Appropriations Chairperson Sfiso Buthelezi also warned against abusing the strategic reserves.
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