The Minister of Finance placed new conditions on the ailing utility’s R250 billion debt relief and tabled amendments to the Eskom Debt Relief Act to give him power to reduce future allocations.
CAPE TOWN - Minister of Finance Enoch Godongwana said he would have a tighter fist on Eskom’s loan and might even reduce the amount of debt relief extended to the struggling entity.
The minister also tabled amendments to the Eskom Debt Relief Act to give him the power to reduce future allocations.In another development, the Treasury will also write off billions in debt owed to Eskom by municipalities over the next three years. But Godongwana said the loan extended to Eskom to get its house in order would now be handled differently.
"These principles and strict conditionalities, greatly enhanced by the amendment, are a key part of how we will deal with Eskom and all other state-owned entities, to avoid a repeat of the mistakes of previous bailouts."
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