ANC welcomes Eskom aid, DA claims more will follow

fin24.com

- fin24.com | 3 months ago

The ANC in Parliament has welcomed Minister of Finance Tito Mboweni’s remarks that struggling state-owned entities should no longer be given unconditional bailouts.

In a statement after Mboweni delivered his maiden Budget in Parliament on Wednesday, the ruling party said it supported Treasury's efforts to stabilise the debt-laden power utility via a support package of R23bn a year over three years. "We further welcome the stress on ensuring that our SOEs function effectively through a variety of transformative measures.

We agree with the Finance Minister that the state’s financial support for state-owned companies should be on the basis of clear conditions," the statement said.

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