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THE NATIONAL CRISIS OF THE OPERATIONAL AND FINANCIAL COLLAPSE OF ESKOM

13 February 2019

The parliamentary caucus of the Congress of the People is ‘disturbed and angered’ at the extent of the national crisis that we face as a consequence of the operational and financial collapse of ESKOM.

Unlike President Ramaphosa, we are however not ‘surprised’.

We have consistently raised our concern at the capture, corruption and looting of much of our state, and the concomitant erosion of skills and capacity.

We have likewise consistently warned that ESKOM could take the ‘country down’ – economically, socially and financially, and from a sovereignty point of view.

Today’s revelations point to further shocks to our economy and fiscus, the possibility of a further ratings downgrade, and a step closer to an IMF bailout.

The consequences of a ‘total blackout’ are too ghastly to imagine and could lead to our own ‘Tunisia Moment’.

At the core of the ESKOM crisis lies the ruling party.

It failed to implement the structural reform of Eskom as set out in the 1998 Energy White Paper. It unashamedly practiced cronyism, deployment and patronage, the forerunner to corruption and ineptitude. It facilitated the capture and looting of the entity. It protected the criminal kingpins, including senior officials of its own party. It profiteered through Chancellor House. And now it seems incapable of taking decisive action to save the situation at Eskom, putting our country at dire risk.

The ANC must he held accountable and responsible and face the consequences in our May national elections.

Issued by :
Deidre Carter
Chief Whip Of The Congress Of The People

Media Liaison ( Parliament)
Roché Kester
0612673301
roche@copesa.org.za

Website:www.congressofthepeople.org.za

Twitter: COPE_SA

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