• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

Arms deal value under review

May 15 2012 12:56
Sapa

Johannesburg - A review of the actual economic value generated by strategic defence procurement projects would be completed during the current financial year, The Star reported on Tuesday.

Trade and Industry Minister Rob Davies told parliament that all national industrial participation programmes were being assessed.

According to The Star he acknowledged that usual departmental practice had been widely flouted when calculating offset credits to arms deal contractors.

Davies was responding to a question by Democratic Alliance defence spokesperson David Maynier.

According to the newspaper, Davies said the lion's share of arms deal offsets were approved as package deals. They were not measured against the actual economic performance of the companies' investments in the economy.

Maynier said afterwards the outcome of the review might give an understanding of the "full horror or the arms deal offset rip-off".

rob davies  |  arms deal

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...