Pravin To Address Foreign U.S, UK Investors On SA’s Economic Status


While President Jacob Zuma finds means to resolve the rift between finance department of Pravin Gordhan and the SARS, the south Africa’s Finance Minister is prepared to face foreign investors in the U.S and United Kingdom to present to them the south African economic status.

The trip comes as he faces pressure from the Hawks, an elite police unit, to answer 27 questions concerning a “rogue unit” allegedly formed at the SA Revenue Service in 2009 when he was commissioner.

Gordhan stated this on Wednesday by saying he had no plans of resigning from his job appointment because he had a duty to his country to ensure the avoidance of a sovereign rating downgrade.

“We would be undertaking a roadshow to have meetings … particularly with people who, and institutions that, are investors in our bonds, to explain the budget to them and the kind of direction we want to go,” he said.

Also See: Zuma Urges Pravin Gordhan to Cooperate With Hawks

Pravin further pointed out that he would leave the tension between him and SARS boss Tom Moyane up to President Jacob Zuma to give direction especially as a good working relations between the two offices are essential. SARS collects taxes that the Treasury allocates to all spheres of government to spend.

“I’ll leave it to the president to give us the kind of direction that we need to take but at the end of the day what you want is a professional set of relationships and a professionally run institution that focuses on its core business,” he told journalists after a Deloitte post-budget briefing yesterday.

Finance minister Pravin’s office and that of Moyene’s have had issues related to the restructuring processes that Moyane had initiated at SARS, which Pravin wanted halted so he can evaluate their effectiveness. Pravin has the right to make such a request because it is his department to which SARS accounts.

The minister said though the policy direction on most issues was “very clear”, those few areas where policy uncertainty existed, for instance some laws in the mining sector, needed to be minimized, adding that this topic would form part of discussions at an inter ministerial committee meeting today.

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