PIC concerned over Eskom bailout reports
The Public Investment Corporation (PIC) says
there is no truth to reports that it will bailing our power utility Eskom.
PIC released a statement on Thursday saying that no talks have taken place with Eskom regarding funding.
“Neither the PIC, as the asset manager, nor the clients have been consulted regarding the proposed Eskom funding solution.
“We believe a long-lasting solution should address, amongst others, Eskom's growing debt burden; impact of Eskom power generation business on the environment; governance reforms; operational effectiveness; improving procurement practices; and ensuring a reliable supply of power to the economy.”
The corporation adds that should Eskom apply for funding, proper processes will be followed.