Fin24

Tax Sasol or nationalise it - SACP

2012-07-15 16:16

Kwadlangezwa - The SA Communist Party would like to see Sasol [JSE:SOL] nationalised, but if this could not be achieved immediately the petro-chemical giant should then be subjected to a windfall tax on extra profits.

SACP deputy general secretary Jeremy Cronin said this was one of the many draft resolutions that emerged from the party's four-day long congress that wrapped up on Sunday at the University of Zululand near Empangeni on.

Speaking at a press briefing following the end of the 13th National Congress, Cronin said that while the party's aim was for the total nationalisation of Sasol, there was "no reason why we should not propose a windfall tax".

He said the SACP believed Sasol was raking in huge profits. It cost the company $40 (about R331) to produce the equivalent of a barrel and it was being paid at the going world market price for oil, which was close to $100 (about R826) a barrel.

Cronin said a resolution to call for the re-nationalisation of AcelorMittal SA [JSE:ACL] (formerly Iscor) was based on the fact that the SACP believed it was being stripped by its international parent company.

He said another draft resolution called for the transformation of the SA National Defence Force (SANDF).

Cronin said the colour composition of the SANDF was not at the centre of the call for transformation, but rather they way it was run and operated.

Media ownership was also an issue that was hotly debated by delegates, according to Cronin.

The role of the national broadcaster in particular received much attention with a draft resolution calling for 60 percent of the broadcaster's budget to come from public funding.

Cronin said there was also a move against foreign ownership of media in the country and that there should be greater diversity.

General secretary Blade Nzimande's failure to arrive at an SACP fundraising gala dinner was raised at the press conference - with Nzimande saying it was not a snub to deputy president Kgalema Motlanthe, who spoke at the event on Saturday night.

“I was simply exhausted. There was nothing else.”

During his closing address to the congress, Nzimande said others were laying claim to Nelson Mandela's legacy and using it against the SA Communist Party and its allies.

"Our revolution is not for sale."

Without making a direct reference to the Democratic Alliance, but referring to "those in the Western Cape", he warned that the former president's legacy was being used against the party to discredit it.

In his speech the long-serving party member again repeated calls for "tender-trepeneurs" to be flushed out of the party.

He also called on municipalities to stop outsourcing work, but instead to increase their own capacity and employ more people.

Referring to the African National Congress' recent policy conference, Nzimande said he welcomed the resolutions from that conference.

The ANC had accepted that "it can no longer be business as usual".

The SACP was more united than ever and a clear indication of this fact was that the party's leadership had been elected by consensus, Nzimande said.

 

Comments
  • herman.kramer.988 - 2012-07-15 16:32

    Really, let's just go back to the dark ages.

      jack.milosevic - 2012-07-15 16:37

      Yes, penalize the entrepreneurs, tax them for not sharing in their hard earned wealth. VIVA Communism. Why work hard when you can take it for free. VIVA OH my goodness the mentality of this nation.

      nicolaas.geldenhuys - 2012-07-15 19:07

      We allready returned to the dark ages - in 1994.

      konstabel.koekemoer - 2012-07-16 10:00

      Nationalization is a stupid idea, SASOL would end up a loss making mess within a short period. However SASOL benefitted from government subsidies for many years so now that it is highly profitable to make fuel from coal they should be levied an extra 'tax' to pay back some of this money.

  • Gerthard Coetzer - 2012-07-15 16:34

    And then compare Sasol to PetroSA wrt safety and technology?

      Nicholas Taylor - 2012-07-16 06:35

      Safety? PetroSA is significantly smaller than the Secunda facility. So trying to compare RCR is a bit difficult. Then secondly PetroSA LTFT technology developed by petroSA with its international partners is slightly better than some other technologies out there.

  • nicholas.graan - 2012-07-15 16:36

    The tiny little voice of the SACP squeaks from the ANC mountain top.

  • andre.vandeventer.16 - 2012-07-15 16:40

    Theft seems to be in their genes!

  • michael.bushes - 2012-07-15 16:45

    Lets nationalise the bank accounts of all ANC members and recipients of tender contracts, then the country will have more money

      eveline.mcnally - 2012-08-27 16:46

      Yes and make them pay back all the billions stolen, we could build the schools , hospitals. houses that they were meant for , and we would not need strikes for for services we would have the money to do it,AND JAIL ALL THE GUILTY!!!!

  • glen.e.huysamer - 2012-07-15 16:48

    Time for Sasol to internationalize itself. Not because of the SACP's farting in the wind but rather in spite of the smell.

  • merushan - 2012-07-15 16:52

    Greedy bastards

  • sean.bagley.50 - 2012-07-15 16:55

    What is wrong with these idiots?Can't they think of anything else?Nationalize this and nationalize that is nationalization the only English word these clowns know off and that's why they so in love with the damn idea?

      michael.bushes - 2012-07-15 16:59

      Well sean, even with all this chaos, Jacob Zuma still looks like a very nice man compared to these types of radicals that exists within the tripartite alliance. Better use whats left of Zuma's current term and his next to leave this country, cause these types of nationalisation obsessed people are only going to grow louder and gain more support.

      Andre Du Preez - 2012-07-15 18:42

      You forgot about apardheid and racist

  • JohnSA02 - 2012-07-15 16:55

    All you guys are making valid points, and unfortunately this is coming from the SACP. But take a step back and consider how SASOL was paid for. With our tax money. The profits should be going back to Government and subsidizing the petrol price.

      mike.mcc.71 - 2012-07-15 17:19

      That money, plus interest was paid back 3-4 years after it started operations as I recall.

      appietrader - 2012-07-16 10:11

      On what planet are you living. Sasol has always been a private company, some loans @ low interest from the previous government for strategic reasons. Sasol is today not owned by South Africans but by mostly foreigners. If this government want Sasol it have to BUY it! Get it!

  • Andre Du Preez - 2012-07-15 17:01

    Sasol was built with taxpayers money so how did in the firstplace become a private entity and who actually owns it ( which of the corrupt anc ministers)

      mike.mcc.71 - 2012-07-15 17:30

      I believe the company has always been a private entity, it was loaned the money by the government and it was paid back not long after commencing operations.

  • ian.levinson.7 - 2012-07-15 17:06

    typical, anything that hasent been stuffed up they want to nationalise

      christiaan.oosthuizen.568 - 2012-07-15 20:47

      If I remember correctly SASOL was a state project , then sold off in 1979 with the state keeping 23% "Sasol - prompted by South Africa's apartheid-era isolation, as well as the poor quality of its coal- perfected this technology at its first plant in Sasolburg back in 1955. When oil prices soared in the 1970s, Sasol built two more plants in Secunda with a $6-billion government loan. The company was privatised and was listed on the Johannesburg Stock Exchange in 1979, but the government maintains a 23.5% stake. Read more: http://www.mediaclubsouthafrica.com/index.php?option=com_content&view=article&catid=38:innovation_bg&id=123:liquid-fuel-from-coal#ixzz20iagzoVk" So take it back????? credibility ???

  • juan.prinsloo.750 - 2012-07-15 17:09

    Why not just turn SA into a communist state, it's what they want.

      sheik.mohammad.378 - 2012-07-15 17:28

      Sad part is that even though communism never worked anywhere in the world. SACP still in their mind think they can make it work and will not accept they are flogging a died horse until they get a chance to ride it.

      burtfred.brown - 2012-07-15 17:36

      SA is already a communist state. Why don't the SACP run in elections? They don't need to, they are already in power by stealth and proxy. The ANC are too thick and corrupt to understand this or to care.

      christiaan.oosthuizen.568 - 2012-07-15 20:51

      at least then we will know were we stand ...... I dont think any business can operate long term like this , that why the mines are decreasing output by 10% a year , or just not developing new shafts , they know its only a matter of time before they will be nationalized , and are just treating it like a cash cow In the end ANC loses , we all lose , better they just get it over with so it can go the zim route

  • Jacques - 2012-07-15 17:15

    I can see it now: \(unreasonable, irrational request) (noun) or nationalise it!\ Is going to be the threat dished out by the ancyl, sacp or whichever clown-commando of the anc for the forseeable future. \Disband the Sprngboks or nationalise them!\ \Empty the Reserwe Bank or nationalise it!\ \Close Twitter or nationalise it!\ Etc. Ridiculous now, but give it a year.

  • sheik.mohammad.378 - 2012-07-15 17:20

    Where were these fools all this time, Sasol was government owned. The ANC sold it off for a quick buck. Now SACP want the ANC to steal it or steal from it.

      mike.mcc.71 - 2012-07-15 17:49

      Sasol was not government owned, it went public in 1979.

      press.enter.12 - 2012-08-29 09:18

      So Mike, who owned it before it went public ? And how did Government get to "retain" a 23.5% stake(as someone posted above) if it never owned it ? Think the fact that you seem to know who "owned" SASOL would add to the debate.

  • mzukisijola.jose1 - 2012-07-15 17:23

    How about nationalised the R5000000 you get in the black bags nzimande

  • marius.roodt.33 - 2012-07-15 17:27

    here is a plan. lets cancell all debt, then take whatever money there is in the country, split it all equally among all the citizens, and then sit back and see who makes the most of the situation then? then, when some people end up richer after two years, you can't blame apartheid or the old system. just pure financial savvy and hard work. great plan isn't it??

      mosale.magwele - 2012-07-15 22:43

      Great idea! I'm in

  • richard.zanner - 2012-07-15 17:42

    Then they wonder why people no longer want to pay their taxes. All they see is money and more money and are permanently on the prowl for more forms of taxes.

  • Taso Holman - 2012-07-15 19:17

    Marius let's do it, I'm in...

  • daniel.malan3 - 2012-07-15 19:53

    Good, you can go tell Lakshmi Mittal you want to nationalise a company in which he owns a stake/whole company lol. Also, what is wrong with Sasol making profits? It's a business stupid ANC fudges!

  • christiaan.oosthuizen.568 - 2012-07-15 21:02

    Now it strikes me that the old gov had a few good projects , SASOL , Iscor to name two and even ESKOM and TELKOM in the old days The ANC has however not made a single new industrialization in the last 20 years , only sold of , perpetuated or degraded what ever they touched Now you would think that we would have had a new silicon valley or modern aircraft or something high teck , but no , nothing new or innovative , just take back the old ones ............steal

      press.enter.12 - 2012-08-29 09:28

      Yip - they had their chance with the Pebble bed reactor - but couldnt resolve problems and instead chose to can it - zillions down the drain - followed by a mass exodus of skills and expertise. What additional investments did the country have to make to bring all the work to fruition? Now we will have to fork out billions to save our electricity situation.

  • stephen.fienberg - 2012-07-16 02:02

    Not supporting these retards but it is a fact that SASOL, just like many other companies in this country which hold an industry monopoly are working on insane margins by selling the oil they produce locally back to the public at the international oil price which we all know is very high. Bottom line is they are operating at their highest possible margins and causing us to pay R2-R3 more per litre than we have to pay thus stealing money right out of hands. If the government were in charge however, we would still pay the same price but there would be supply problems as all the profit would be pocketed while the maintenance and management of their plants would be neglected.

      Thebigguyjim - 2012-07-16 06:33

      Stephen. This is also a fact. Why should a privately owned company sell it's products here cheaply, when they can sell at a higher price internationally.

      Nicholas Taylor - 2012-07-16 06:50

      If Sasol were to sell its products cheaper the rest of the fuel industry would collapse. They wouldn't be able to survive. At best Sasol can produce 60% of the countries fuel needs. So if the rest collapse the country would run dry before the end of the week. The petrol price is regulated by government exactly for that reason. Go do some research before utter mindless drivel!

  • sisie.indola - 2012-07-16 07:29

    Hey i just want to see that the public benefit from SASOL, maybe like getting CHEAPER petrol, as in other petrol producing countries. It is so unfair that SASOL charge international prices, certainly made a few people multimillionaires in a very short space of time - now do these people pay high TAXES or do they actually get away with paying the minimum, and do they actually support charities or is the only charity they support called "me, myself and i"

      Thebigguyjim - 2012-07-16 07:45

      Sisie. You as a citizen do get a benefit from Sasol. Sasol pays normal company TAXES on all their profits. The more profit the more tax. Then they the pay their shareholders dividends out of those profits. The shareholders then pay another 15% tax on that, therefore the WHOLE country benefits.

  • hugh.robinson.56 - 2012-07-16 08:14

    Hold on Sasol is not a private comapny perse. The state still holds a substancial part of the stock. I agree with the fuel lower price from Sasol as it was funded with tax money that was never repaid to the people.

  • antin.herinck - 2012-07-16 09:40

    Haha, SASOL. Your Inzalo scheme in 2008 (BEE share options) did NOT have the desired effect, after all. They simply want it ALL. But nicely tried anyway.

  • johnathon.masters - 2012-07-16 09:57

    Sasol has to be amongst the best run Companies in South Africa with its groundbreaking technology in Oil from Coal processing. It is also a strategic asset, in that it supplies oil to the SA economy. It is at present a blue chip company. If the Government has the slightest input into the ownership, management or further technical development of the Company, I for one will sell every share I have in Sasol, as it will start a rapid downward slide into chaos, corruption, mismanagement, and a cash cow milked mercilessly until on the verge of bankruptcy. It seems the ANC will stop at nothing, till the country’s economy has been brought down to its knees, and unemployment, starvation and misery stalk the country.

      press.enter.12 - 2012-08-29 09:21

      Is SASOL'S technology groundbraking or the German technology on which its process is based ?

      rakoma.adelice - 2012-09-09 12:41

      Ask him peter, the fischer-tropsch synthesis was never invented by a south african!

  • antin.herinck - 2012-07-16 12:46

    Windfall tax? What windfall? In 2008 the share price was around the same level as it's now. Already SARS is getting a full 50% more on it's dividends. They chanced the name (sooo good at this) from the STC (10%) to DWT, which is 15%. Yes folks, half as much to fund ever more grants the ANC needs to buy their votes and to provide all your cadres with their corrupt gains. (Not to mention crazy stuff like throwing train loads of school books in the lake.) On top of that, Pravin milks more and more taxes from their primary products: petrol and diesel. This tax, that tax, tax and more tax. The SACP must think, indeed our ANC comrades are onto something with their Nationalisation Not Being Policy. Why worry about nationalising SASOL to death, if we can tax 'em to death? (And screw those black idiots who invested their savings in SASOL's Inzalo BEE scheme.)

  • dries.swanepoel.94 - 2012-07-16 15:45

    We have a new runner up for JuJu's replacement. I dont know where they get the idea that a company run by a goverment [ any goverment ] is a good idea. We have to stop worring about the words they speak and rather start finding out where they get their information from. Because not even London's Local Councel is run by the goverment it is a private company regulated by the goverment. I swear I think they have been told that companies like Microsoft and Google are owned and run by the American Gov. Instead of taxing them [SASOL] out of the country or bluntly pissing them off leaving them to pack their bags and the country [ giving us a little exstra for the uneployment pot] how about approaching this situation diffrently than in the past. Yes Sasol got subsidized in the past so yes there should be a little payback on their behalf, but instead of taxing them till their ears bleed. Why not go into this with growth in mind. Sasol however big they are is still focused on growth [ as any company is]. Give them a taxbreak or subsidise them for opening more filling stations BUT Sasol needs to drop or recalculate their pricing we all know that they dont use oil SO WHY DO WE ALLOW THEM TO USE THE INTERNATIONAL OIL PRICE TO CALCULATE THEIR PRICES???? Iam not saying give it away for free but SELL it to us [ SA only] at a discounted price for all the money they got from the goverment in the past.Hence more work is created and SASOL will still profit,PROUDLY SOUTH AFRICAN

  • ronald.jeffs - 2012-08-27 16:47

    Sasol should just file for bankruptcy once they are forced to start paying tax or be nationalized, for thousands to loose there jobs, then in turn blame it on government. Because in essence government are to blame..... Not that the cANCer will wake up after that, they will find something else to scr*w up and blame it on apartheid!

  • pages:
  • 1