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Johannesburg - State-owned companies under the belt of Public Enterprises Minister Barbara Hogan are under pressure to deliver, according to transport utility Transnet.
"We've had two meetings - one which lasted several hours," said Transnet's acting CEO Chris Wells on Wednesday, following the release of the group's annual results to end-March. "She's very focused on delivery."
Hogan told parliament on Tuesday the country's parastatals should retain some of their historical function in the sense that under apartheid they were used "in an almost admirable fashion" to provide the infrastructure that drove the economy, according I-Net Bridge.
Pointing to Transnet, she said though an extensive overhaul of the freight provider in recent years resulted in non-core assets being sold off, it had retained its primary capacity, without which the local economy would grind to a halt.
"If we do not get freight rail up and running in the way that it should be, we are doing a disservice to the economy," she said. "Transnet has gone through a very painful transformation process, but we did not sell off the core functionality and that is what shapes our attitude to privatisation."
Hogan was recently in hot water with some ruling party members and labour unions after saying loss-making parastatals may be sold off.
- Fin24.com