Consumers are no longer able to fund the lavish lifestyles and corrupt practices of our government, and are falling behind on debt repayments,
Government corruption and mismanagement is to blame for the dire situation consumers face due to the fuel and electricity increases implemented this week.
Dawie Roodt, chief economist at Efficient Group, said Eskom’s tariff incease was the tip of the iceberg and more were coming. “The situation at Eskom is dire: debt exceeds R420 billion and gross operational failures, general mismanagement and corruption is still the order of the day.” “That electricity is increasing at almost three times the rate of inflation is something that nobody in government seems to care about, nor that a whole range of additional taxes and levies are being added to the petrol price to take it to a historical high,” he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumers to dig deeper into pockets as electrity tariff, fuel price hikes hitExperts are warning that the tough economic times may lead to more uncertainty about the country's investment market.
Read more »
Consumers brace for tougher times as fuel price hikes kick in at midnightPetrol will increase by up to R1.31 a litre while diesel will cost up to R0.82 more a litre more.
Read more »
Fuel price hikes to push inflation up - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Economists say the sharp fuel increase is expected to push inflation up. The price of fuel and diesel will increase at midnight.
Read more »
Cosatu: Incompetent govt has no plan to deal with skyrocketing fuel hikesCosatu says it wants the government to release the long-awaited research on a possible fuel price cap.
Read more »
It's no joke: April 1 electricity, fuel hikes slated by DA's Mmusi MaimaneDemocratic Alliance leader Mmusi Maimane says April 1 will be a dark Monday for South Africans due to the electricity price hike.
Read more »
It's no joke - April 1 electricity, fuel hikes slated by DA's Mmusi MaimaneDemocratic Alliance leader Mmusi Maimane says April 1 will be a dark Monday for South Africans due to the electricity price hike.
Read more »
Wandile Sihlobo: The good news about food pricesDespite fuel and electricity price hikes, the overall outlook is fairly positive, says Wandile Sihlobo.
Read more »
Fuel prices rise at midnightThe Energy Department has confirmed that petrol will increase by more than R1.30 a litre.
Read more »
'Steep fuel hike to directly impact election results' - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Convenor of the People Against Petrol and Paraffin Price Increases, Visvin Reddy, has warned government that the new fuel price increase will have a direct impact on the results of next month's elections.
Read more »
Fears over increases in fuel, taxes | Cape TimesThe Cape Chamber of Commerce has expressed concern about yet another fuel price increase to come into effect Tuesday at midnight.
Read more »