Finance minister to deliver budget while Sowetans go on a rampage over electricity
Will budget 2020 have solutions for Eskom?
Expectations are high as Finance Minister Tito Mboweni is expected to table the country’s budget tomorrow.
Mboweni will deliver this Year’s budget in a time when Sowetans embark on a total shutdown fueled by Eskom’s inability to supply enough power for them.
Last year the minister announced that R23 billion would be set aside a year to support the reconfiguration of the power utility.
A year later, Eskom is still not reconfigured and load shedding has become a daily occurrence.
Busi Radebe who is an economist with Nedbank thinks Eskom and the issue of electricity in this country will be one of the biggest talking points for Mboweni tomorrow.
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“The State of the Nation Address sort of points out what is going to be said in budget sometimes. I think the budget is going to try to find some support for the electricity sector and getting electricity for the country.
“The emphasis should be about getting electricity outside of Eskom as set out at the SONA,” said Radebe.
While Radebe talks about getting electricity outside of Eskom, she does not rule out the possibility of government financial support for the power utility which she says it must have conditions and very strict rules.
Eskom has had bailouts before but it has still not been able to consistently provide stable power for the country.
At this year’s SONA the President made it clear that load shedding will remain possible in the immediate future while the government works towards sorting out Eskom.
As Sowetans embark on a shutdown today, it remains to be seen whether Mboweni will come up with the money to put the lights back on for the country.
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