Labour federation Cosatu says it will support the partial privatisation of some state-owned enterprises (SOEs) if it means that workers will benefit.<\/p>\n
Speaking in an interview with City Press<\/a><\/strong>, the group said that partial privatisation should be carried out to prevent ailing SOEs from suffering further financial distress and having to rely on bailouts from government.<\/p>\n “There has to be a comprehensive plan. Treasury needs to set out conditions which all the SOEs need to abide by. There also has to be a strict regime for those who run the SOEs because, collectively, we all agree that they should remain under state ownership,” said the federation\u2019s spokesperson, Sizwe Pamla.<\/p>\n “However, there has to be a process that identifies strategic SOEs because, as much as there are SOEs where we see no role for the private sector whatsoever, there are those where you can say: \u2018Maybe we can invite the private sector as a minority partner.\u2019<\/p>\n “The involvement of private investors could inject much-needed technology, capital or whatever else that is needed to revive the SOEs\u2019 fortunes.”<\/p>\n