19 May 2021 - NW1210
Buthelezi, Mr EM to ask the Minister of Finance
Given the recent publication of the annual report of the SA Post Office’s financial results for 2019-20 financial year, which shows that the Post Office is technically insolvent, what is the National Treasury’s plan to return the Post Office to solvency?
In terms section 51(1) of the Public Finance Management Act, the responsibility to, amongst others, manage revenue, expenditure, assets and liabilities lie with the accounting authority. The executive authority of the South African Post Office is the Minister of Communications and Digital Technologies, who has the responsibility to oversee any plans to return the Post Office to solvency. The National Treasury cannot take over the functions of the Minister of Communications and Digital Technologies, and the accounting authority, who is the board of the Post Office.