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Gigaba: High price to pay for inequality

Nov 13 2012 09:39 Sapa

Public Enterprises Minister Malusi Gigaba

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Johannesburg - There is a high price to pay for social inequalities, Public Enterprises Minister Malusi Gigaba said on Tuesday.

"We must make the necessary strides towards inclusive growth and development," Gigaba said at a business breakfast in Fourways.

"The political and economic systems must be fair, reputable and promote social justice and inclusion. We all realise that there is a high price to be paid for inequality and it is a social curse that we will bear heavily if nothing is done."

Gigaba said greed should not play a role in development.

The government established a presidential infrastructure coordinating commission to correct government and market failures, by coordinating allocation of resources in growth-enhancing sectors of the economy.

The country would not realise meaningful social and economic justice if capital was not allocated.

Gigaba said national economic recovery would only be achieved if all social partners worked together.

"Government has mobilised all relevant stakeholders... to respond to the immediate challenges associated with the global economic crisis and to build South Africa's future economy," Gigaba said.
 

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