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DA: David Maynier says DA welcomes PIC’s disclosure of “unlisted investments" to Parliament

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DA: David Maynier says DA welcomes PIC’s disclosure of “unlisted investments" to Parliament

DA: David Maynier says DA welcomes PIC’s disclosure of “unlisted investments

17th October 2017

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/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

We welcome the decision by Dr Dan Matjila, Chief Executive Officer of the Public Investment Corporation, to disclose detailed information about its "unlisted investments" for the 2016/17 Financial Year.

This is the second disclosure of information about the “unlisted investments” following our campaign for greater transparency by the Public Investment Corporation.

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The Public Investment Corporation’s disclosure is more comprehensive than last year and includes information about the lead sponsor, drawdowns from inception and the social impact of all its “unlisted investments” in the 2016/17 Financial Year.

However, there is no legal requirement for the Public Investment Corporation to disclose information about its unlisted investments.

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That is why we have proposed a Private Members Bill to amend the Public Investment Corporation Act (No. 23 of 2004) to compel the corporation to disclose detailed information about all of its investment annually to Parliament.

 

Issued by DA

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