Posts tagged with 'SOEs'

 

SA collapses as a result of communist ANC regime – dire state of land now on the same level as Zimbabwe

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Political analysts say conditions in South Africa are now deteriorating by the day, and the bad conditions are now putting residents at the same level as in Zimbabwe.

A police service that has lost thousands of rounds of ammunition without any action being taken against the culprits indicates the dire security situation that prevails.

The country’s Defense Force was evaluated by experts about two years ago and it was found that its hitting power is now no better than it was in the 1930s. Then the Air Force had more pilots than are currently employed after the best ones have already left the country.

The prospect that the government now wants to activate the so-called “National Health Plan” means that two things are waiting for the Westerners of the country:

That is, he will eventually no longer have a Medical Aid, and secondly, the health plan will follow the same route as Eskom, Denel, SABC, SAL, and others under state
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Government employees face 10% salary cut to fund crippling Eskom since National Treasury’s box is empty

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National Treasury director-general Dondo Mogajane has said that the best way to fund the bailout of failing state-owned enterprises could be to cut the salaries of all government employees by 10%, according to a report in the City Press.

The government has to find a way to close a R120-billion hole in its budget, which is the result of acceding to a R59-billion bailout for Eskom as well as a shortfall in tax revenue for the fiscal year ended March 2020.

“National Treasury’s box is empty,” Mogajane said to the City Press.

“Growth is not coming through and tax revenues are not there. We are in trouble. The government needs to reduce spending.”

“If we are going to be serious – without people losing their jobs – let us reduce the salaries and stop the bonuses,” Mogajane said.

In response to this plan, unions said that they would not accept the revocation of bonuses and salary cuts for their workers.

“Any talk
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Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration

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Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries.

Public Enterprises Minister Pravin Gordhan announced that the company, with the help of a lender, made it possible to pay salaries for the month of June. Meanwhile, it has come to light that although staff salaries have been paid, no pension contributions where paid. Unconfirmed reports say Denel will again struggle in late July to compensate his staff.

Denel CEO Danie du Toit indicated stated that Denel is in negotiating with the banks to obtain bridging finance and has apologized for the tension and anxiety it causes among staff and their families. Since Denel failed to pay its employees ‘salaries in full, staff have been showing a negative attitude towards the comp
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