The Public Investment Corporation is dogged by the resignation of board members and the suspension of senior officials.
Labour federations have identified the stabilisation of the Public Investment Corporation (PIC) and the instituting of investigations into the affairs of the institution as a priority.
This comes after the wave of suspensions of senior officials and resignations by board members against the backdrop of calls by some commentators for the discontinuation of the practice of appointing a finance deputy minister as chairperson of the board.
The DA announced earlier this week a Pension Protection Bill that seeks to implement long-overdue reforms by ensuring that the PIC board chairperson is independent rather than a serving politician and that appointments be made on merit.
This week, the PIC experienced resignations by Finance Deputy Minister David Masondo and five other board members ahead of the Monday meeting scheduled by Finance Minister Enoch Godongwana to dissolve the board in the wake of the suspension of CEO Patrick Dlamini and Acting Chief Investment Officer August van Heerden.
