KarooKlonkie
Well-Known Member
thoroughly sickening, what is this country coming to?
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Question of the Day: At what point do you sell your car?
Eskom boss gets 27% pay increase
- Thread starter Ockie
- Start date
dlk001
Executive Member
Eskom CEO's pay hike defended
Cape Town - Eskom chairperson Bobby Godsell yesterday defended the Eskom chief's massive salary increase.
He told the Portfolio Committee on Public Enterprises that the debate should instead concern whether Jacob Maroga's R5m/year salary is appropriate.
Godsell considered newspaper reports about a 26.7% hike "misleading and unhelpful".
He said that Maroga had received a 9% increase and no bonus following a decision to postpone the payment of long-term bonuses related to Eskom's share scheme until the company broke even financially.
He said the almost 27% difference was an adjustment to Maroga's salary because, at the time Maroga had been appointed to the top position in 2007, he had already been working at Eskom at a salary level inappropriate for a chief executive.
Godsell added that an "intelligent debate" on Maroga's salary was required, especially in light of the fact that Eskom has a turnover of more than R100bn.
In the year that Maroga had been appointed, an international expert had warned him of an impending crisis arising from problems with the power utility's coal stocks, but Maroga had apparently ignored this. The electricity crisis struck the country in January 2008.
Pieter van Dalen (DA) pointed out that Maroga was earning twice as much as the President. He said the increase had been awarded just after the power crisis and that consumers were still paying for the problems.
Committee spokesperson Vytjie Mentor also raised eyebrows on Tuesday when she removed questions about alleged poor management at Eskom from the question list. The questions emanated from internal Eskom documents, the content of which was disclosed last week.
Minister of Public Enterprises Barbara Hogan told the portfolio committee that cheap electricity was unsustainable. "The tariffs are so low that Eskom is unable to proceed with its R400bn capital expansion programme."
Tariffs are linked to Eskom's funding model, which is still to be presented, she explained. Eskom's tariff proposal must be submitted to Nersa by the end of September.
Hogan said that progress had been made with the funding model. It would be announced in the medium-term budget framework in October.
Eskom has expansion projects worth about R88bn which are currently not being financed.
Cape Town - Eskom chairperson Bobby Godsell yesterday defended the Eskom chief's massive salary increase.
He told the Portfolio Committee on Public Enterprises that the debate should instead concern whether Jacob Maroga's R5m/year salary is appropriate.
Godsell considered newspaper reports about a 26.7% hike "misleading and unhelpful".
He said that Maroga had received a 9% increase and no bonus following a decision to postpone the payment of long-term bonuses related to Eskom's share scheme until the company broke even financially.
He said the almost 27% difference was an adjustment to Maroga's salary because, at the time Maroga had been appointed to the top position in 2007, he had already been working at Eskom at a salary level inappropriate for a chief executive.
Godsell added that an "intelligent debate" on Maroga's salary was required, especially in light of the fact that Eskom has a turnover of more than R100bn.
In the year that Maroga had been appointed, an international expert had warned him of an impending crisis arising from problems with the power utility's coal stocks, but Maroga had apparently ignored this. The electricity crisis struck the country in January 2008.
Pieter van Dalen (DA) pointed out that Maroga was earning twice as much as the President. He said the increase had been awarded just after the power crisis and that consumers were still paying for the problems.
Committee spokesperson Vytjie Mentor also raised eyebrows on Tuesday when she removed questions about alleged poor management at Eskom from the question list. The questions emanated from internal Eskom documents, the content of which was disclosed last week.
Minister of Public Enterprises Barbara Hogan told the portfolio committee that cheap electricity was unsustainable. "The tariffs are so low that Eskom is unable to proceed with its R400bn capital expansion programme."
Tariffs are linked to Eskom's funding model, which is still to be presented, she explained. Eskom's tariff proposal must be submitted to Nersa by the end of September.
Hogan said that progress had been made with the funding model. It would be announced in the medium-term budget framework in October.
Eskom has expansion projects worth about R88bn which are currently not being financed.
Fazda
Honorary Master
This is just sick! 
These bastards at Eskom are just laughing all the way to tyhe bank...it has become a case of "Let them eat cake" as far as our new upper management types are concerned!!
SCREW THEM!!
EDIT: As for Bobby Godsell defending the idiots, it makes me sick...he's been earning telephone number salaries for the past 30 years, and wouldn't recognize an over inflated salary if he saw one!!
These bastards at Eskom are just laughing all the way to tyhe bank...it has become a case of "Let them eat cake" as far as our new upper management types are concerned!!
SCREW THEM!!
EDIT: As for Bobby Godsell defending the idiots, it makes me sick...he's been earning telephone number salaries for the past 30 years, and wouldn't recognize an over inflated salary if he saw one!!
Fazda
Honorary Master
None of it is profit Eskom ran at a record loss last year...several billion in fact!
Then they can't be giving increases, now can they?
Mila
Honorary Master
They can they will and we have to pay.
Fazda
Honorary Master
acidrain
Executive Member
Giving CEO's more than they deserve, giving africa power we can't supply while screwing their own with increased rates... all of which still equates to losses.
That takes some serious skill, even if the CEO was the janitor. I guess Moron-ga is a "one of a kind" dumbass.
That takes some serious skill, even if the CEO was the janitor. I guess Moron-ga is a "one of a kind" dumbass.