Eskom's exemption is facilitating state capture 2.0, says Cosatu | City Press

Eskom's exemption is facilitating state capture 2.0, says Cosatu

Cosatu said National Treasury’s decision to grant Eskom an exemption from disclosing irregular, fruitless and wasteful expenditure, and losses from criminal conduct in its financial statements is reckless and shady.

Other organisations, such as the Organisation Undoing Tax Abuse and the Black Business Council have also raised alarm bells about this move. Exempting Eskom from complying with certain sections of the PFMA sends a clear message that government is not serious about transparency and accountability when it comes to Eskom’s financial management practices.National Treasury’s decision to allow Eskom to deviate from parts of the Public Finance Management Act and Treasury Regulation 28.2.

The power utility, currently in the process of hiring a permanent chief executive, has been plagued with allegations of corruption and malfeasance that have left it unable to provide adequate electricity for the country’s needs.

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