VIDEO: Committee concerned about Transnet’s plans to give slots to private sector

Public Enterprises Portfolio Committee Chairperson Khaya Magaxa says they are concerned regarding Transnet’s plan to give its slots to the private sector due to non-profitability.

Transnet told the portfolio committee on Public Enterprises on Wednesday that theft, vandalism, and under-performance continue to put Transnet’s revenue in a dire situation.

There has been an over 1000% spike in cable theft over the last five years, with 100km of cables being stolen every month.

Security costs have escalated the state-owned entity’s cost to revenue.

Magaxa says committee members are concerned about the move by Transnet to allow a lot of private entities to enter Transnet. He says this borders on privatisation of the entire entity.

Below is the full interview:
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