Fedusa calls on Gigaba to appoint labour representatives to PIC board

The Federation of Unions of South Africa (Fedusa) has written a letter to finance minister Malusi Gigaba calling on him to appoint organised labour representatives to the Public Investment Corporation (PIC) board.

The letter comes after media reported that the National Treasury was planning to take government employees pensions managed by PIC to rescue struggling state owned companies such as SAA and Eskom.

In the letter to the minister, Fedusa general secretary Dennis George said Section 6 of the PIC Act allows for the nomination of organised labour representative to its board.

“Given the precedence of union representation of the GEPF board of trustees, and given that Fedusa and its affiliated trade unions, the Health and Other Service Personnel Trade Union of South Africa (HOSPERSA), the Public Servants Association (PSA), the Suid-Afrikaanse Onderwys Unie (SAOU) and the South African Parastatals and Tertiary Institutions (SAPTU)  have publicly voiced serious concerns about the ongoing threats against the PIC and its CEO, Dr Dan Matjila, we deem it appropriate to formally request you to give effect to the legal provisions in section 6 of the PIC Act.

“You are hereby requested to issue a call for nominations from organised labour to appoint union representatives to the PIC’s board of directors, in accordance with the PIC Act.

“We now call upon you to invoke this section and to give recognition the rights of public sector workers who are the biggest contributors and investors to the GEPF, and the assets managed by the PIC.”

The union said it would seek further legal advice on the application of the PIC Act.

“We also wish to give notice that we shall consult with the extended body of labour federations to mobilise public support for our request for representation on the PIC board.”