Parliament - Finance Minister Tito Mboweni on Thursday said he would allocate funding from the contingency reserve to shore up South African Airways, the South African Broadcasting Corporation and Denel but warned that the handouts should not be considered a "blank cheque".
"But I must add that this government support cannot be a blank cheque to these state-owned enterprises. We really and truly cannot carry on like this." "In some cases, such as in aviation and broadcasting, various companies are making profits in providing good quality services... under the same economic conditions." He also did not put a figure on the special appropriation that is in the pipeline for struggling electricity utility Eskom but confirmed that he would table a bill in Parliament on 23 July to seek approval for the measure.
This came on the back of confirmation that Eskom, which has debt of R420 billion, only had cash to meet its financial obligations until the end of October.
tito_mboweni He is putting our last cent into SAA, and he said he wouldn't put his last cent into SAA!
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