Secret Sale Of SA Strategic Fuel Stocks Can Trigger R1 Billion GDP Loss In A Day

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Yesterday, BuzzSouthAfrca reported that the new Energy Minister in her first briefing to MPs, confirmed that secret sale of SA strategic fuel stocks.

Contradicting her predecessor, Tina Joemat-Pettersson’s claim that the nation’s strategic fuel stocks were merely rotated, Minister, Mmamoloko Kubayi specified that the country’s strategic fuel stocks were sold in a secret deal.

Kubayi disclosed that the proceeds from the sale aren’t lesser than R300 million, that the money is still in the accounts of the strategic fuel fund, and that the identity of who authorised the sale is still unknown.

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Reacting to the disclosure, the Fighters (EFF) condemns the admittance by the Energy Minister regarding the secret sale of SA strategic fuel stocks saying it’s proof that South Africa has become a mafia state.

“This assertion is in stark contradiction to former Energy Minister Tina Joemat-Pettersson who declared that South Africa’s fuel stocks were being rotated.

“The sales of the fuel stocks amount to R300-million which remain in the accounts of the Strategic Fuel Fund.

“The occurrence of this is a threat to the country. Dating back to the year 2006, it had been estimated that a ‘no stock’ fuel crisis circumstance could very well result in a loss of GDP to the country that can amount to R1-billion a day,” EFF stated.



The Fighters further recalled that Muzi Mkhize of the Department of Energy in 2015, declared that strategic stocks would only be released and proposed for sale if the country finds itself in a state of emergency.

Having said that, EFF specified that the Strategic Fuel Fund had been responsible for procuring, maintaining and managing strategic fuel stock held by government, companies and those in their possession through the agreement they made with the state.

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Thereafter, the party asked for an immediate independent investigation into the secret sale of SA strategic fuel stocks. Also, EFF charged that the former Minister of Energy must face the necessary legal implications for lying to parliament and trading the country’s reserve resources in secret.

“A kleptocratic occurrence of such dramatic proportions can only happen under an equally kleptomaniac Zuma.

“That such national interests could be compromised under his watch is yet anyone reason why he must step down as President of the Republic.

“One only wonders how many more secret deals are being administered, both on his direct instructions and inspired by his lawlessness,” said the Fighters.

Above all, Malema’s party wailed that South Africa will face great consequences on fuel shortages just “because of the unsatisfiable, gluttonous thirst to loot public resources by ANC Ministers,” their families, friends and comrades.

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