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The cabinet says it needs more time to finalize a robust economic recovery plan for South Africa, as the protracted blockade threatens to plunge the economy into a deeper recession.
After a special cabinet meeting on Wednesday, April 15, the government was expected to shed some light on the relief measures to be added to initiatives that have already been announced by the state for the initial 21-day blockade, and confirm if any sector, apart from essential services, would trade again.
But the cabinet released a statement Wednesday night saying that after listening to presentations from different groups, including the economic and investment sectors, it needs more time to consult and discuss proposals.
“The cabinet resolved that further discussions and consultations are still required before the final consolidated plan is approved to be shared with the nation. All cabinet groups have been asked to work together to produce a consolidated document on the key priorities of the The country’s economic recovery plan will be completed before the next cabinet meeting scheduled for Monday, April 20, 2020, “the cabinet said in a statement.
He also said that the Minister of Public Companies, Pravin Gordhan, was instructed to prepare a report on South African Airways for the Cabinet to discuss the airline’s status at its next meeting.
On Tuesday, SAA joint venture rescue professionals received a letter from the Public Business Department, rejecting the airline’s request for R10 billion in financing. The department also stated that the government will also provide no further guarantees to SAA to facilitate the loans.
Compiled by Londiwe Buthelezi
