Issued by: SA Communication Service
CAPE TOWN 14 AUGUST 1996
The Ministry for Public Enterprises is concerned over public speculation surrounding the proposed salary structures for executives of Transnet which have been published by the media prior to the granting of Ministerial approval and consent for such salary adjustments.
It must be emphasised that these salary proposals as published in the media were submitted in their preliminary format by the Chairman of the Board to the Minister for approval. In view of the Government's belt-tightening exercise, the size of the sums involved together with inadequate information relating to additional perks and fringe benefits, serious reservations were expressed by the Minister concerning the proposals. These were accordingly conveyed to the Chairman of Transnet.
A breakdown of the figures has since been given. The matter is still going to be discussed further with the Remunerations Committee.
Any speculation on the figures published is therefore bound to be based on premature, incomplete and inaccurate data.