Eskom proposes cutting jobs, raising tariffs and moving debt to government

[BusinessTech]

Eskom proposes cutting jobs, raising tariffs and moving debt to government

Eskom Holdings SOC Ltd, the cash-strapped South African power utility, wants the government to take on about R100 billion ($7.2 billion) of its debt as part of a rescue plan that will enable it to continue operating.

 

[HennieWelkom]

Listen, guys, there is nothing left to loot.

 

[Pitbull]

Who the **** have they employed to come up with this shyte?

They want to had debt to government, cut jobs and above all still want a massive tariff increase? Why not just move let's say, R 120b to Government, cut jobs and keep inline with an inflationary increase?

Or, settle your own debt and stop asking more and more from the same people. They will just use less so your income will remain the same...

 

[whatwhat]

Why not. Heck make it R150 billion.

 

[ToxicBunny]

Interesting.. they won't tell us about the rescue plan until they've spoken to all stakeholders (aka government) but they have no issue selling it to international investors before they've been given government approval.

 

[LazyLion]

There's nothing you can do until you strip out all the old rotting boards and timbers. You can't paint over rot.

 

[Compton_effect]

Break Eskom up into Four companies.
One specializing in Power Generation, one in Distribution, another one gets all the debt.
The Last company uses the 16 000 staff to generate electricity.

But seriously - we are not going to get anywhere until they get the unions and government to agree that staff cuts are inevitable.

 

[Vrotappel]

The executives said they hadn’t formally raised the issue with Finance Minister Tito Mboweni or the National Treasury, according to a second investor, who asked not to be named as he’s not authorized to speak publicly about the matter. That made him doubtful the government would accept it, he said.

WTF, you know you must first run it past the ANC. They need to get there share of 'consulting' fees for turnaround plan 300.