CURRENTLY ON AIR ⇒
  • NEWS
    Thursday, 8:00 pm - 8:05 pm
    [ - ]

feedback@radioislam.org.za

Radio Islam Logo


((( Listen Live )))))
Radio Islam Logo


Eskom Situation Has Plunged SA into State of Absolute Crisis

 

Faizel Patel, Radio Islam News – 14-02-2019

(Twitter: @FaizelPatel143)

 

The Democratic Alliance’s (DA) Shadow Minister of Public Enterprises says South Africa is in a state of absolute crisis after it emerged that Eskom is technically insolvent and will fail to exist without a government bailout.

On Wednesday Parliament’s Public Enterprises Portfolio Committee heard Eskom’s debt is now standing at R 420 billion and it won’t be able to keep the lights on beyond April if it continues on its current trajectory.

Last week, President Cyril Ramaphosa during the State of the Nation Address (Sona) said the entity would be unbundled into three separate entities.

The DA’s Natasha Mazzone says the Eskom situation is dire and if the lights go out, the country will be plunged into the biggest crisis it has ever faced.

“We are in a state of absolute crisis. What we have now is a situation where a giant monopoly has the ability to hold our entire country to ransom, because it’s almost being like in a kidnapped situation. You will do and pay anything to get out of that particular situation and that’s where the country now finds itself.”

Mazzone says government will have to scrounge at least a hundred billion Rand from other services to bail out Eskom, as there is no money in the fiscus to assist the power utility.

ADVERTISE HERE

Prime Spot!!!

Contact:
advertisingadmin@radioislam.co.za 

Related Articles

Political analysis: ANC’s bid to deregister MK Party

Political analysis: ANC’s bid to deregister MK Party

Sameera Casmod | sameerac@radioislam.co.za 27 March 2024 | 14:00 SAST 2-minute read The party led by former President Jacob Zuma, uMkhonto we Sizwe (MK), won the first round in the electoral court when the Africa National Congress’  (ANC) application to have the party...

read more

Subscribe to our Newsletter

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *