Transnet CEO 'hopeful' of wage dispute resolution
Transnet CEO Portia Derby says she remains hopeful that the wage dispute between unions and the state-owned entity will be resolved.
Her remarks come after trade unions UNTU and SATAWU rejected Transnet's latest wage offer - calling it insulting.
Derby was speaking at the Agri SA Congress in Pretoria on Thursday.
She said its unsustainable to have 66% of operating costs to be labour-related.
"Its not sustainable to have 66% of operating costs to be labour costs. I am not talking about revenue because that is something that we need to grow.
READ: Transnet strike will continue until we are satisfied – UNTU
"At 66% the biggest cost drive on our side is interest costs which is even more ridiculous because when I ask people what do you think is the next most expensive thing, people often say it must be electricity and fuel. Electricity and fuel are number three and four."
Derby adds that one can't stay sane at a state-owned entity if one is not hopeful.
"I do not think you can grow anything if you are not hopeful, and I don't think you can stay sane at Transnet frankly, and in a state-owned enterprise without hope you will go crazy, so I am hopeful."
MORE ON ECR
