The Democratic Alliance is concerned that a statement issued by the PIC board regarding the fund manager's investments in Eskom 'is not entirely honest and transparent'
PRETORIA - The Democratic Alliance is concerned that a statement issued by the Public Investment Corporation board regarding the fund manager's investments in Eskom "is not entirely honest and transparent", the party said on Saturday.
Earlier on Saturday, the PIC board confirmed that the entity had developed a discussion document on options regarding its investments in state-owned power utility Eskom. "In that regard, the PIC confirms that it has developed a discussion document which sets out a wide range of possible options. Whatever solution the PIC eventually supports, if any, will meet the risk and return expectations of our clients and be fully consistent with our fiduciary responsibilities."
Khoza said the PIC had not received any formal communication from Cosatu, but he believed there was a way to help Eskom, eNCA reported. "The statement today [Saturday] suggests no such discussion has even taken place, and the proposal is still internal to the PIC. This inconsistency must be explained. Has the PIC discussed this proposal with the GEPF or not? Has the GEPF given its in principle agreement or not? If Dr Khoza has been less than frank, this would be cause for serious concern," he said.
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