Despite evidence of the dangers and failures of public-private partnerships, the ANC and newcomer Rise Mzansi ignore these concerns
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.South Africa’s economic stagnation and social decay stand as a damning testimony to the failure of neoliberal economic policies.
Infrastructure projects, especially in developing or underdeveloped nations, require large resources and carry a number of risks that can be unpalatable to private investors, who seek returns on their investments that are not outweighed by risk.
But the price paid for attracting private investment into public assets is not just monetary, it is also human. Attracting private investment into public assets often requires structural adjustments to fiscal, monetary, labour and industrial policy that are not in the best interest of the public.
Arising from the structural reforms to Eskom’s operations and financing were a series of pivotal changes: government became its sole shareholder and its tax exempt status was removed, but most importantly, the utility adopted the But tariff increases produce more instances of non-payment and servicing debt is a cost the utility has struggled to bear. Compounding costs, which take resources away from maintenance, is the burden of energy bought from independent power producers ., IPP contracts accounted for more than a third of primary energy costs, while contributing only 8% of total installed capacity.
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