The Treasury has said it will meet the deadline set by the high court in the Western Cape to appoint someone to head-up the Passenger Rail Agency of SA before the end of the week.
According to the Public Finance Management Act, if a public entity has a board, that board is the accounting authority. If it does not have a board, the CEO or person in charge is the accounting authority for that entity. In May, Prasa announced that it was facing a “debilitating cash-flow crunch” after failing to pay R23m to employees’ retirement fund benefits for the previous two months. The state-owned enterprise said it was considering job cuts through voluntary severance packages to ease its financial woes.
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