DA welcomes the inquiry into the embattled PIC
The Democratic Alliance (DA) has welcomed the decision by President Cyril Ramaphosa to establish a Commission of Inquiry into the Public Investment Corporation (PIC).
The presidency announced on Wednesday that the inquiry will look into allegations of impropriety at the PIC.
The commission's scope stretches from 1 January 2015 to 31 August 2018.
The DA's David Maynier says, however, they fear the scope may exclude a number of the questionable investments from scrutiny, made as far back as 2013.
"We think there are few things that will terrify the governing party more than a full-scale independent inquiry into the Public Investment Corporation," says Maynier.
The PIC manages R2 trillion in government pension and other funds.
The former president of the Supreme Court of Appeal, Justice Lex Mpati, is expected to head the commission assisted by former Reserve Bank governor Gill Marcus and Emmanuel Lediga.
The commission's scope stretches from 1 January 2015 to 31 August 2018.
The DA's David Maynier says, however, they fear the scope may exclude a number of the questionable investments from scrutiny, made as far back as 2013.
"We think there are few things that will terrify the governing party more than a full-scale independent inquiry into the Public Investment Corporation," says Maynier.
The PIC manages R2 trillion in government pension and other funds.
The former president of the Supreme Court of Appeal, Justice Lex Mpati, is expected to head the commission assisted by former Reserve Bank governor Gill Marcus and Emmanuel Lediga.
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