Public Enterprises Minister Pravin Gordhan was responding to a written question from the Economic Freedom Fighters (EFF), which asked the minister about the full details of the causes of Transnet’s ballooning debt.
CAPE TOWN - Public Enterprises Minister Pravin Gordhan said that Transnet’s revenue fell way short of being able to repay the struggling state entity's R130 billion debt.
Gordhan was responding to a written question from the Economic Freedom Fighters , which asked the minister about the full details of the causes of Transnet’s ballooning debt.Despite its ballooning debts, state logistics giant Transnet also reported an over R5 billion debt as rail volumes declined massively.
Gordhan said the current debt was approximately R130 billion and the increase in debt related to capital investment in infrastructure, locomotives or rolling stock procurement.
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