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Government not yet considering PIC as investment partner for SAA

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Finance Minister Malusi Gigaba. (Pic: Gallo Images)
Finance Minister Malusi Gigaba. (Pic: Gallo Images)

Cape Town – Government has not considered using the Public Investment Corporation (PIC) as a minority equity partner for the ailing national carrier SAA.

In a written response to a parliamentary question posed by Alf Lees from the Democratic Alliance (DA), Gigaba said he has not investigated the possibility of using the Government Employees’ Pension Fund (GEPF) through the PIC as a possible public entity partner for SAA.

Gigaba earlier said in Parliament that a minority equity partner for SAA will not necessarily be from the private sector, but may also be a public entity. This sparked fears that the government would consider the PIC for this purpose.

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