Eskom insists PFMA compliance a priority amid fury over exemption
In its annual financial statements, Eskom has welcomed National Treasury's decision to exempt it from disclosing irregular, fruitless, and wasteful expenditures.
The power utility says it's been seeking approval for the exemption for several months.
According to a notice in the government gazette, Eskom will be exempt from disclosing its expenses for three years.
The expenses will now be reported in its annual report.
Eskom spokesperson Daphne Mokwena says they will continue to respect and cooperate with supervisory authorities.
READ: Eskom exempted from disclosing irregular, fruitless expenditure
"Public Finance Management Act (PFMA) compliance remains a priority as Eskom continues to address irregular, fruitless and wasteful expenditure, including appropriate consequence management proceedings.
"This exemption will assist in the dialogue with credit rating agencies, the lender community, and key stakeholders. Eskom will abide by the conditions and strict monitoring requirements imposed by National Treasury in granting the exemption.
