The Auditor-General’s office says government has been too slow in turning around ailing state-owned enterprises.
The failure to submit financial statements for years, particularly in the case of South African Airlines, and the delays by others such as Eskom, has also made it difficult to form an accurate picture of the state of their finances.
The Auditor-General’s office says while it supports the department’s initiative to turn around state-owned entities, the reality is, the pace has been too slow.
The AG’s Fhumulani Rabonda says a lack of funding criteria for these entities, is causing policy uncertainty.
Transnet has been the biggest culprit in terms of irregular expenditure of over R1 billion.
The AG’s office says the figure could be far higher, due to a preferential procurement exemption granted by the finance minister.
Power Cuts Lessen Despite Winter Fears
DWS Encouraged By Improvement In WC Dam Levels
ANC Mourns Passing Of Tina Joemat-Pettersson
Cape Town Politicians And Heinz Winckler Lose It Over Sex Expo Posters
Families, Rescuers Search For Victims Of India’s Worst Train Crash In Decades
Matters Related To Putin Not On BRICS Meeting Agenda – Pandor
Professor Taole Mokoena appointed As SA’s New Health Ombudsman
Glencore Ferroalloys Supports Local SMME In Steelpoort With Two 65-Seater Busses
Car-Sharing Could Hold The Key To The Future Of SA’s Mobility In Urban Areas
Debt Ceiling Deal Wins House Approval
SA’s Health System A ‘Dysfunctional Mess’ That Can’t Be Fixed – Makgoba
Zimbabweans In SA Have A Month To Find Alternative Ways To Regularise Stay