Zuma: government to monitor jobs fund
Johannesburg - The money set aside by government to create jobs will be "rigorously" monitored, President Jacob Zuma said on Sunday.
"The performance and monitoring department is going to look at what has happened, there is going to be rigours monitoring as to what is being done by all of us towards creating jobs," Zuma said in an interview on SABC TV.
In his State of the Nation address on Thursday, Zuma announced the establishment of a jobs fund of R9bn over the next three years to finance new job-creation initiatives.
In addition, the Industrial Development Corporation (IDC) had set aside R10bn over the next five years for investment in such economic activities with a high job creation potential, he told parliament.
He also announced R20bn tax breaks to promote investments, expansions and upgrades in the manufacturing sector.
Zuma also said that government would ensure that vacancies in various departments were filled.
"We are not going to allow vacancies... they must filled," he said.
He also urged the private sector to do its part by hiring graduates who lack work experience.
"How do you allow skilled people to swell the ranks of the unemployed when in fact you could find a way to deal with it," Zuma said.
"Those are the issues we are going to deal with, as we have skilled labour that has no experience, what do with them?
"Instead of allowing huge numbers that come out every year as kids qualify, you are adding numbers to unemployment... is a challenge and we must deal with it.
"We can't just live with them and say because they are not skilled, fine let us let them join the ranks [of unemployment]," Zuma added.
This fund would obviously make some long fingered politicians wealthier... no doubt.
Sure they will monitor it - to make sure that no one else steals it before they can.
After wiping the tears of laughter from my eyes, I can now comment.
Let's just save everyone a lot of bother and expense, and pay out the R9 bn (+IDC's R10 bn) to the cronies and pals. Get the cheque requisitions ready. Tenderpreneur, labour-intensive companies are suddenly going to mushroom, employ lots of people, and fold after a few months, having accessed as much subsidy as possible.
Does he really expect us to believe this rubbish? 2012's coming up soon, so of course he has to start making promises that we all know he cannot and will not keep. Let's see in 3 years, how many jobs have been created, and exactly where the R9 bn has been spent. I won't hold my breath.
"Government will monitor job funds" - that's the same as putting the jakkals in charge of the hen house
Fin24 is my new comedy site