Pretoria - National Treasury on Friday clarified the fiscal transfers to power utility Eskom.
“Government approved fiscal support of R23 billion to Eskom to be transferred in three tranches of R10 billion in June 2015, R10 billion in December 2015 and R3 billion in March 2016,” it said in a statement.
A total of R15 billion has been transferred to Eskom thus far.
Former Finance Minister Nhlanhla Nene last year tabled the Eskom Special Appropriation Bill and the Amendment Bill in Parliament. The Eskom Special Appropriation Bill will enable the appropriation of the R23 billion allocated to the power utility.
Of the second R10 billion due to have been transferred in December 2015, the Minister of Finance withheld R5 billion.
Following the submission of additional information by Eskom, on 22 February 2016, the Finance Minister approved transfer of a further R3 billion. The R3 billion will be transferred to Eskom next week.
“National Treasury will be working with Eskom over the next few weeks to manage the transfer of the remaining R2 billion plus the R3 billion that was originally scheduled for March. Eskom will submit information in early March and National Treasury will assess this before approving the transfer,” said Treasury.
National Treasury emphasised that the funds to cover the Eskom fiscal support have been raised already and are waiting for transfer in line with the terms government set out when approving the fiscal support. – SAnews.gov.za
