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The move is likely to see a reduced emphasis on big asset sales. The 10% empowerment sale of electricity utility Eskom's generation assets and getting the private sector to run Durban Container Terminal are the only significant deals on the horizon.
It also sets the stage for government to play a greater role in driving what President Thabo Mbeki described as South Africa's "first world" and "third world" economies.
State enterprises such as Eskom and Transnet will play a role in the expanded public works programme as well as driving focused initiatives such as electrification.
While officials say there is no move away from government's privatisation drive, there are indications that this politically sensitive issue is being downplayed ahead of next year's election.
The depressed global economy has also reduced investor appetite for privatisation deals, leading to speculation that the planned sale of a further 20% of Eskom's power stations will be placed on the backburner.
Public Enterprises Minister Jeff Radebe said government's strategy was to reposition state enterprises to play a bigger role in economic development.
Key restructuring policies were now in place and the big four enterprises Eskom, Transnet, Telkom and Denel had either been restructured or were in the final stages.
Radebe said his department was now positioning itself to have greater oversight to ensure that investment programmes happened in a co-ordinated way.
To date the fiscus had received R24bn from restructuring, Business Day said.
