Minister of public enterprises Pravin Gordhan told MPs on Wednesday that the restructuring costs for SAA amounted to R14bn and not the R10.5bn that has previously been cited by business rescue practitioners.
Asked by DA MP Natasha Mazzone whether the R10.5bn that Gordhan has secured from the Treasury would cover SAA’s restructuring costs in full, Gordhan replied: “The total cost of restructuring is R14bn, of which R10.5bn is required currently.”
Both the business rescue practitioners and the department of public enterprises have previously provided a breakdown of the costs amounting to R10.5bn.
Last week, the business rescue practitioners shifted the line items within the R10.5bn around at the behest of the department but did not change the final sum.
Gordhan said last week that the R10.5bn was the very last amount that the government would put into SAA and that prospective partners had been advised of this.
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