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Parliament, Wednesday, 21 November 2018 – The Public Investment Corporation (PIC) Board appeared before the Standing Committee on Public Accounts (Scopa) today, following Scopa’s invitation to the PIC to brief Scopa on a range of issues, some of which are in the public domain.

Giving the background to the meeting, the Chairperson of Scopa, Mr Temba Godi. said the invitation was an opportunity for the PIC to address these issues. Mr Godi told the PIC board that the PIC is a public entity responsible for public funds. As there has been negative media reporting on the PIC’s use of those funds, “… it would be irresponsible of Scopa not to invite PIC for accountability, given those negative developments,” he explained.

Mr Godi reminded Scopa and the PIC board that the committee sent a letter to the PIC on 4 June 2018, requesting certain information from the PIC. However, the PIC did not comply and instead submitted to Scopa legal advice saying the reasons that included the fact that some of the information is confidential, and therefore cannot be given to Scopa.

Mr Godi told the PIC board that the rules of Parliament are clear that Scopa can invite any public entity to appear before it and demand any information it seeks. “Please give us the information and engage with us on areas of information you think are confidential,” Mr Godi said.

The committee has instructed the PIC to provide the information requested before the end of business on Wednesday, 28 November 2018. Scopa will invite the PIC for another meeting on 6 and 7 December, 2018.

“The PIC must come to the committee with the right frame of mind and use the platform provided by the committee to clear issues. If there are challenges, we will then deal with those collectively and find solutions together,” Mr Godi emphasised. 

ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE STANDING COMMITTEE ON PUBLIC ACCOUNTS, MR THEMBA GODI.

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