No plans to scrap PIC’s unlisted investment portfolio: Godongwana
Finance Minister Enoch Godongwana says government has no plans to scrap the Public Investment Corporation’s (PIC) unlisted investment portfolio.
He was responding to questions in the National Assembly during an economic cluster question-and-answer session on Wednesday.
Godongwana faced questions about the future of the portfolio following the announcement that the Special Investigating Unit (SIU) will investigate PIC-funded investments where money has not been repaid.
He says the newly appointed PIC board has the necessary capacity to address challenges and strengthen the institution’s operations.
Godongwana says, “I have made no submission to the President and the President has not asked me for any submission. Our focus at the moment is to try from the PIC including its unlisted assets to be the very PIC of the past that used to fund empowerment, that used to fund infrastructure, that used to fund small medium enterprises.”