Issued by: SA Communication Service
CABINET MEETING 24 JANUARY 1996 The Cabinet met in the Union Buildings this morning for its first full meeting of the year. Meetings of the Cabinet Committees resumed last week while various working committees of Ministers had been meeting throughout the recess period.
A number of decisions pertaining to the management of the economy were taken. The Cabinet approved certain amendments to the Articles of Association of Transnet Ltd in terms of a transformation strategy for improved corporate governance of public assets under the Ministry for Public Enterprises. The amendments seek, amongst other things, to ensure that all directors, executive and non-executive, operate within the terms and mandate issued by the shareholder to whom they are accountable for their performance.
The Cabinet gave in principle approval for the establishment of a State dividend policy as part of a Corporate Governance Framework to be applied to State corporations which generate profits as a result of their business operations. The Minister of Finance was authorised to negotiate specific dividend rates and possible problems within the framework with the respective Ministers and corporations and to submit a comprehensive dividend policy to the Cabinet in due course.
Approval was also given for the establishment of a Public Cash Management Office. Government, through the Department of Finance, is continuously seeking ways to reduce the central government's overall debt burden and to minimise the cost of servicing government debt. This office will manage the cash balances of the public sector for purposes of reducing the central government's cost of borrowing through the implementation of improved cash management techniques.
The Cabinet took note of the Green Paper on Science and Technology and supported the publication of the Green Paper.
The following Bills were approved for submission to Parliament during the 1996 session:
The Land Administration Amendment Bill; The Council of Traditional Leaders bill.
The Cabinet approved the appointment of Mr G M Budlender as Director-General in the Department of Land Affairs and the appoint- ment as Deputy Directors-General in the Department of Correctional Services of Major-General K Sithole and Major-General M T Khoza. Approval was given to the Minister of Safety and Security for the establishment of an Independent Complaints Directorate.
Secretary of the Cabinet
24 January 1996