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The Minister of Finance, Malusi Gigaba, claims to be taking “bold action” to protect the integrity of the Public Investment Corporation (PIC).

However, the truth is the minister’s “spin machine” is playing catch up desperately trying to claim ownership of processes that are already underway at the PIC.

The fact is:

• the first disclosure of beneficiaries and investments, which included details of directors and shareholders, was made last year, and work towards preparing the second disclosure is already underway at the PIC; and
• the chairperson has already agreed, following a request from myself, to consider an investigation into irregularities, including the recent smear campaign, which did so much damage to the PIC.

In the end, the minister’s “spin machine” has packaged processes already underway as “bold action” in an effort to frame the minister as a crusader against “state capture” and a protector of the integrity of the PIC.

It’s just not credible.

Issued by DA