Another bailout planned for Eskom
Finance Minister, Tito Mboweni has tabled a special Appropriation Bill that will see the crisis-ridden Eskom receiving yet another lifeline.
Mboweni has asked Parliament to approve an additional R59 billion for Eskom over next two years.
He says other cash-strapped institution will also be bailed out.
"Once this bill has been passed this afternoon, we will then be in a position to use the contingency reserve account to provide support to the SABC, Denel and South African Airways."
NOW READ: Five KZN municipalities owe Eskom over R360-million
Mboweni says the SABC also needs R3.2 billion to stay afloat.
"We will not just make that available tomorrow by mistake. We will release in chunks as certain conditions are met to make sure that there is progress in improving the organisation. Similarly, as of tomorrow we will be announcing for each entity the relevant chief restructuring officers who will work together to get the institutions back on track," Mboweni said.