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The controversial plan is opposed by ANC alliance partners Cosatu and the SACP, but Ramaphosa told the The Economist he is right behind it.
South Africa’s fuel price is currently calculated monthly, based on overseas oil prices.
President Cyril Ramaphosa is to brief Parliament on efforts to boost economic growth and tackle the nation’s crisis-level unemployment rate, just weeks after the National Treasury asked government departments to cut their budgets.
South African government yields climbed and the rand pared an advance after the National Treasury said it will increase the amount of debt sold at weekly bond auctions to help fund a bailout of the state-owned electricity company and counter a tax revenue shortfall.
The government is considering a R3.2bn guarantee for the country's cash-strapped national broadcaster to help it raise money from lenders, according to the Sunday Times.
National Treasury has been a beacon of good governance and stability since 1994 – the last couple of years however has seen it suffer under a barrage of political assault that resulted in four finance ministers in four years.
The platform provides anonymity both pre-trade and post-trade and more price discovery, allowing traders to see live pricing.
National Treasury has hit back at critics of proposals for economic growth, including a sovereign wealth fund and economic stimulus plan.
Some suppliers are threatening to stall state-contracted projects if their demands for cash payments are not met - breaking the law and potentially undermining transformation.
South Africans have until mid-August to comment on the newly published Taxation Laws Amendment Bill and the Tax Administration Laws Amendment Bill.
Mobile operators have long blamed the lack of spectrum for high data prices.
Perhaps what Treasury is heralding is the long-awaited "tough choice". And perhaps doing so is a necessary first step to clawing the country back to something resembling sustainability, writes Terence Corrigan.
The national treasury found that municipalities underspent more than one-fifth of their overall capital budgets.
Three specialists break down the ins and outs of ling your taxes
Numsa says bureaucratic red tape and frustration forced SAA Chief Executive Vuyani Jarana to quit his job and demand that his resignation be rescinded.
Proposed new debt listing requirements include stipulations that will compel state-owned entities looking to apply for debt securities to be more transparent.
In 2011 Cabinet approved a policy in which the Road Accident Fund would be converted from being a fault based, liability insurance system to a fully funded social security system.
In a bid to speed up the pace at which local government officials are getting qualified to do their jobs, Finance Minister Nhlanhla Nene has announced a new, shorter time limit for them to do so.
Public Investment Corporation CEO Dan Matjila will know his fate by the end of the week, when Finance Minister Nhlanhla Nene concludes a review of allegations against him.
National Treasury says the impact of the national minimum wage as it stands will be different from its initial calculations, and the policy should be given a chance.
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