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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - Should the proposed 53% electricity price hike be finalised, South Africa would still have the cheapest electricity in the world, Minerals and Energy Minister Buyelwa Sonjica said on Tuesday.
Sonjica was addressing the media and the public at the Rand Show in Johannesburg.
"Despite the increase, we will still have the cheapest electricity in the world."
She said should Eskom's proposal be finalised - which would only happen after public comment - it would have a "knock on" effect on the price of fuel and food among other things. But government was looking at subsidising poor households.
"We are looking at cushioning the poorest people."
Highlighting energy saving tips, the government would also subsidise solar heaters. She encouraged the public to switch off non-essential lights, invest in energy saving light bulbs and turning off geysers at certain times.
Sonjica said cooking was also a heavy drain on energy supply.