COSATU statement on the announcement of the members and terms of reference of the PIC Inquiry

COSATU welcomes government’s announcement of the members and terms of reference of the PIC Inquiry. The federation supports any measures to eradicate the blanket of corruption that threatens the very survival of government, more so when it is our members’ hard earned pension and UIF and COIDA monies.  The season of looting has gone on far too long and it’s time for the clean up process to begin.

We hope the Commission will do its job thoroughly all those crooks that have been gorging themselves at the expense of workers will be exposed.  We are tired of commissions though that have endlessly dragged on, consumed exorbitant fees and produced fancy reports that have said little than what we already knew.  We simply want to see those who have looted being relocated to prison, their assets seized and stolen monies returned to the state.  To date we cannot recall a single crook that has been locked up as a result of these expensive commissions of inquiry. It’s time for government and its law enforcement organs to act on these commissions and send the these looting brigades to prison.

We are disappointed that it took government three months to announce the Commission’s terms and members.  We have received no explanation as to why this has taken so long.  This lethargy is part of the reason why government is in such a mess.

We note that the terms of reference include reviewing the PIC’s legislative act.  We want to warn government and the ANC very clearly that under no circumstances can this be used by government or the ANC to delay Parliament’s passing the PIC Amendment Bill before the end of the 5th Parliament.  We expect, insist and will fight to ensure that Parliament is allowed to do its constitutional mandate and process the bill.

The PIC Amendment Bill is one of the most important, progressive, pro-worker and anti-corruption bills of this parliament.  It will ensure that unions are represented on the PIC Board.  Currently the Finance Minister has a blank cheque to constitute the board.  This bill will provide a clear developmental investment mandate for the PIC.  Currently the PIC Act is completely silent on how the PIC invests what is now R2 trillion worth of workers’ hard earned money.  It will require that the PIC disclose and report on all its investments and ministerial directives to the public, parliament and the executive.  The PIC Act is largely silent on such a critical public accountability matter.

COSATU urges Parliament to now move with speed to pass the PIC Amendment Bill before it is dissolved for the 2019 elections.  Workers are tired of waiting and the time for playing games is over.


Issued by COSATU

Sizwe Pamla (Cosatu National Spokesperson)

Tel: 011 339 4911
Fax: 011 339 5080
Cell: 060 975 6794