Finance Minister Enoch Godongwana caved in to the public backlash and withdrew the exemption he had granted to Eskom from disclosing irregular, fruitless and wasteful expenditure, and losses from criminal conduct, in its financial statements, until 2025
The minister was summoned to Parliament on Tuesday to explain this decision that was gazetted on Friday last week to the joint meeting of the standing committees on appropriations, public enterprises, the Auditor-General and the standing committee on public accounts .
He added that his department would only now conduct detailed consultation with the Auditor-General and Eskom’s auditors . The minister said the decision to exempt the power utility had been informed by the major risk Eskom’s debt poses to the fiscus and the implications of a qualified audit on the utility’s loan agreements and borrowing costs.
While MPs generally accepted the withdrawal, there was concern about the"for now" qualification made by the minister. Hlengwa wanted the minister to clarify what this meant. Hlengwa pointed out that Eskom had been qualified in the area of irregular expenditure for the past five years and the power utility has not presented any plan to get its books in order.
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