Question NW1366 to the Minister of Finance
26 June 2023 - NW1366
Kohler-Barnard, Ms D to ask the Minister of Finance
Whether, given that the SA Post Office (SAPO) has been put in provisional liquidation after a R2,2 billion bailout was promised in the budget speech earlier this year, and given that SAPO’s total debt amounts to approximately R4,4 billion, the National Treasury will refuse any further bailouts of SAPO in order to prevent the liquidation process from being finalised; if not, what is the position in this regard; if so, what are the relevant details?
Reply:
Parliament approved the fiscal framework for 2023/24 on 8 March 2023. The provisional liquidation of SAPO and business rescue processes were initiated via a judicial process subsequent to the 2023 Budget and funding to support this process was not included in the approved fiscal framework. Government is responding through the judicial process, but various options are possible including reprioritisation of funds, within the approved fiscal framework. However, the Appropriation Bill has not been enacted yet and any adjustments in terms of section 6 would need to be considered for the adjustments budget later this year in October.